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Bitcoin has stalled at the $90,000 level. What is needed for the next breakout? The key still lies in the participation of retail investors and institutional funds. Once these two forces surge back in, the critical resistance level of $90,000 is likely to be effectively broken, further pushing Bitcoin toward six figures. Currently, the market is waiting for such a demand-side rebound—whether it is retail trading enthusiasm or strategic positioning by large funds, both will directly determine whether a new round of upward movement can form.