Bitcoin Reclaims $90,000 as On-Chain Data Show Fragile Demand

Bitcoin has moved back above $90,000 after trading below that level for several days. On-chain data show persistent sell-side pressure and declining stablecoin liquidity on exchanges, raising questions about the durability of the rebound. Large Bitcoin deposits now account for roughly 45% of hourly exchange inflows, a proportion that has climbed since early October.