Currently, Bitcoin's trend shows a clear regional divergence: Asian funds continue to buy, pushing prices higher, while institutional funds in the Americas remain relatively dormant. This asymmetric capital pattern directly restricts the sustainability of the rebound.

From a technical perspective, BTC's short-term rebound space is limited. The $85,000 level constitutes a recent support bottom, while the previous high zone between $92,000 and $95,000 forms a clear resistance. Breaking through this range requires increased capital inflow, which currently lacks the cooperation of major American funds.

The reasons behind market divergence warrant in-depth observation. The trading volume and price performance of BTC during US stock trading hours, the capital flow of the US spot Bitcoin ETF, and changes in Federal Reserve policy expectations—these are key signals to judge when American funds will revive. Historically, there was a situation in March 2025 where Asia led the rally followed by a follow-up from the Americas. Investors are now waiting to see if this pattern will repeat.

In the long term, the market faces two possible development paths. In an optimistic scenario, American institutions will gradually return after the holidays, and the two major regional funds will work together, potentially pushing BTC to test higher resistance levels. However, if American funds remain cold, relying solely on Asian capital may be insufficient, and the market could oscillate below $95,000 or even retest lows.

Close attention should also be paid to on-chain data performance—whether indicators like RMRPC can signal shifts in regional capital, and how macro policies and regulatory developments catalyze market sentiment. These clues can help investors anticipate trend reversals in advance.