币界网报道：Bitcoin continues to face resistance below its all-time high (ATH) after multiple failed attempts to break through the $69,000 level in recent weeks. The cryptocurrency has been consolidating within a tight range, with traders closely watching the $109,000 mark as the next key psychological and technical target. Market analysts note that despite strong institutional inflows and positive sentiment around spot Bitcoin ETFs, selling pressure near ATH levels has capped upward momentum. On-chain data indicates that long-term holders are taking profits at these levels, while derivatives markets show reduced leverage compared to previous cycles, suggesting a more cautious approach among traders. The $60,000 support zone remains critical, with sustained trading above this level seen as bullish for another potential breakout attempt. Macroeconomic factors, including Federal Reserve policy expectations and geopolitical tensions, continue to influence Bitcoin's price action alongside traditional markets. Some analysts argue that Bitcoin's current consolidation phase is healthy after its rapid ascent earlier this year, allowing the market to absorb profit-taking and establish stronger support levels before another potential push higher. The $109,000 level, representing a 1.618 Fibonacci extension from previous cycles, has emerged as a widely discussed mid-term price target among technical analysts.