Bitcoin's price is showing signs of stagnation with resonance on both the 4-hour and daily charts! (1) On the 4-hour chart, bullish momentum is weakening but not exhausted, and there’s a divergence between volume and price. (2) On the daily chart, multiple attempts to break above 88K have been made. Volume decreases during price increases and spikes during drops. While bulls seem resilient, they’re actually showing signs of fatigue and stagnation. (3) Among ETF institutions, only BlackRock and MicroStrategy are consistently buying aggressively. Other institutions have paused or withdrawn. (4) Mid-sized whales are buying, and the amount of BTC on exchanges is decreasing. However, the bulls haven’t formed a unified force, and there’s clear divergence. (5) Bears have heavily fortified the 88K level. Every time the price bounces up, it gets suppressed. For bulls to break through the liquidity above 88K, they need unity and positive catalysts, but none are visible at the moment. (6) It’s not that the price can’t pull back, but it requires a process of gradual change leading to a tipping point. A catalyst is needed, along with a weakening of bullish momentum to the point of exhaustion. As a result, Bitcoin’s price is likely to remain in a narrow range of consolidation for a few more days, waiting for a catalyst and the right timing. I believe there’s a high probability of a pullback to around 80K. It’s not that a major drop is impossible, but the timing isn’t right yet.