As of 9:30 AM today (UTC+8), Bitcoin's price movement is quite interesting — after bottoming out at $89,309 in the early morning, it has sluggishly rebounded back to around $91,400. The entire trading day has seen relatively small fluctuations, oscillating within the range of 91,000 to 91,600.

Looking at the 24-hour data, the opening price was $91,510, with an intraday high of $91,645, and a trading volume reaching $49.35 billion. The underlying reason for this market behavior isn't complicated — insufficient market liquidity, with institutional investors waiting on US employment data, leading to a short-term risk appetite that is somewhat subdued. Coupled with the disturbance from ETF fund inflows, the overall momentum has been suppressed.

From a technical perspective, $90,000 is a key psychological level, with the overnight low of $89,300 serving as support below. On the upside, the price needs to break through the intraday high of $91,600 before considering a push towards $92,000.

The key to the upcoming market movement lies in the US employment data release tonight. If the data performs strongly, the $92,000 level may be tested; otherwise, the price could retest the support at $90,000. In the short term, this range-bound oscillation is likely to continue, so there's no need to be overly nervous.