**[Opinion: Bitcoin's Fragile Rebound Built on Liquidity Shrinkage, Large Holders Are Selling]** Odaily Planet Daily reports, according to monitoring by CryptoQuant and Glassnode, Bitcoin (BTC) recently surged above $90,500, but this rebound has been influenced by increased realized losses and weak demand. CryptoQuant's report indicates that investors are exiting positions at a loss, a pattern that typically signals market momentum exhaustion. Large holders' substantial deposits are driving up the inflow of BTC and ETH into exchanges, with the average deposit value rising sharply, suggesting whales are transferring tokens to exchanges for sale. Ethereum (ETH)'s average deposit value has also risen to its highest level in nearly three years. Glassnode noted in its weekly report that realized losses have climbed to levels comparable to previous cycle lows, and the profit-loss ratio for short-term holders has collapsed, highlighting insufficient remaining buying power. Comprehensive data suggests that the price increase may be masking deeper liquidity pressures. Analysts believe that until liquidity recovers and demand strengthens, any further price increases may be temporary and not indicative of a market turning point. Currently, BTC remains above $90,000, while ETH is trading near $2,900. (CoinDesk)