Bitcoin's price has been under pressure as sellers dominate the market, yet buyers are strategically positioning themselves for potential gains. Market depth data indicates that while sellers control the immediate price vicinity, deeper levels are populated with bids, suggesting buyers are ready to capitalize on lower prices. Analysts believe these bargain hunters could soon stabilize Bitcoin's price.

Liquidity constraints are a significant factor, with the global money supply (M2) shrinking for two years, reducing cash flow into risky assets like Bitcoin. This liquidity squeeze is compounded by the inactivity of major investors, or "sharks," who have slowed their buying after last year's rally, keeping Bitcoin's price range-bound.

Bitcoin is currently battling between resistance at $102,750 and support at $91,200, creating a stalemate between buyers and sellers. Analysts emphasize the importance of Bitcoin surpassing its 50-day moving average to break out of this range. Failure to do so could lead to further declines.

Historical comparisons to 2016-2017 suggest potential for growth if global money supply expands. While some analysts foresee a dip to $70,000 before recovery, optimism remains for Bitcoin's long-term prospects, contingent on improved global liquidity.

As Bitcoin consolidates, upcoming economic events, such as the U.S. inflation report, may influence its direction. The market's attention is fixed on liquidity, buyer activity, and Bitcoin's ability to maintain key levels, with volatility anticipated in the near future.