Bitcoin holds near US$92k as selling pressure cools but demand remains weak

Bitcoin steadied around the US$92,000 mark on Wednesday as a sharp wave of selling eased, but analysts say the market still isn’t showing the level of buyer aggression needed for a strong rebound.

The crypto market has been under pressure for days, with BTC slipping from its recent highs as large holders trimmed positions and spot demand softened. Although the intense sell-off has cooled, traders say the market is stuck in a wait-and-see mode rather than preparing for another major leg up.

Market cools, but not recovering yet
Short-term holders, who were responsible for much of the earlier volatility, have slowed their selling. Exchange inflows, a metric that often signals fear or profit-taking, have also dropped compared to last week’s spike. That has allowed Bitcoin to stabilize instead of breaking deeper below the US$90k threshold.

Still, demand remains muted. Trading volumes are lower than average, and spot purchasing hasn’t picked up enough to show bullish conviction. Institutional flows into BTC products also remain mixed, creating a sideways market that favors caution.

Why buyers are holding back
Analysts cite three key reasons for the hesitation:

Macro uncertainty: Investors are waiting for new inflation data and central bank signals before committing fresh capital.
Profit-taking after the rally: Many traders who bought during the US$60k–US$70k region are still securing gains.
ETF flows slowing down: The once-strong inflows into Bitcoin ETFs have tapered, reducing upward momentum.

With momentum indicators flattening, traders say Bitcoin will need a clear catalyst, either macro clarity or a fresh surge in institutional buying, to escape the current neutral range.

What comes next
Market watchers expect BTC to trade between $89,000 and $94,000 in the short term. A break above the upper band would signal renewed strength, while a slip below support could open the door to more aggressive selling.

For now, Bitcoin may be holding its ground , but the demand required for a breakout still hasn’t shown up.