Bitcoin has recently demonstrated notable volatility, with its price briefly surpassing the $100,000 mark for the fourth time, only to retreat shortly thereafter. This price fluctuation highlights a significant battle between support and resistance levels, with $90,000 acting as a firm support base since mid-November. Traders are keenly watching open interest in Bitcoin futures to gauge market sentiment, which has been more influenced by spot market movements than by leveraged positions in recent weeks.

The price action is also influenced by broader factors, including the political environment. With President-elect Donald Trump’s inauguration just around the corner, many market participants are speculating that his entry into office could act as a trigger for a price breakout. Despite several failed attempts to maintain the $100,000 price level, Bitcoin’s current consolidation phase indicates potential for future gains, provided key resistance levels are broken.

As traders monitor leverage and open interest trends, it’s clear that Bitcoin’s path forward may depend on a combination of market fundamentals and external catalysts, with expectations for further volatility in the coming weeks.