## Bitcoin's Remarkable Recovery

Over the past week, **Bitcoin** has delivered its strongest performance since the dramatic October 10 downturn, which triggered the largest liquidation event in crypto history. The premier cryptocurrency appears to be on a recovery trajectory, **surpassing the $90,000 mark** on Wednesday, November 26.

Despite recent bear market predictions, optimism has returned among investors hoping for the **BTC bull run** to resume. However, a prominent on-chain analyst has presented a compelling analysis of Bitcoin's current price outlook.

## BTC Price Expected to Consolidate Between $70K-$90K

In a November 28 post on X, **CryptoOnchain** shared an evaluation of Bitcoin's price action around the $90,000 level. According to the crypto expert, recent **on-chain data** suggests the market leader faces potential rejection at its current price level.

CryptoOnchain highlighted that Bitcoin lost significant **support at $90,000** when it initially dropped to around $80,000 a week ago. Now, BTC is attempting to achieve a sustained close above $90,000 after bouncing back from the **Point of Control (POC)** near $82,000.

In crypto trading, the **Point of Control (POC)** represents the price level with the highest trading volume during a specific period. This zone indicates where buyers and sellers are evenly matched, often forming support or resistance levels.

![Bitcoin](https://pbs.twimg.com/media/G61JFDxWQAAHDS0?format=png&name=large)
*Source: @CryptoOnchain on X*

After rebounding from the POC around $82,000, CryptoOnchain stated that Bitcoin has established a "clear" **consolidation zone** between $70,000 and $90,000. While Bitcoin currently trades above $90,000, the analyst warned of potential rejection.

## On-Chain Data Reveals Supply-Demand Imbalance

This conclusion stems from on-chain data showing substantial Bitcoin inflows into **Binance**, the world's largest crypto exchange by trading volume. According to CryptoQuant, the exchange has received over **$2 billion worth of BTC** in the past seven days, potentially creating downward price pressure.

Beyond potential selling pressure, there's limited buying power to absorb additional BTC supply that might enter the market from sales. CryptoOnchain noted that **net stablecoin inflow** on Binance stands at approximately $735 million, indicating constrained potential demand or buying power.

With this "clear supply-demand imbalance," CryptoOnchain concluded that rejection from the $90,000 mark and **sideways movement** within the $70,000-$90,000 consolidation zone represents the most likely scenario for Bitcoin's price.

## Bitcoin Price Overview

As of this writing, Bitcoin's price hovers just above $91,000, showing minimal movement over the past day.

![Bitcoin Chart](https://www.newsbtc.com/wp-content/uploads/2025/11/BTCUSDT_2025-11-29_09-41-31.png?resize=2308%2C1568)
*The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView*

Over the past week, the Bitcoin price produced its best performance since the infamous October 10 downturn.

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