Bitcoin's market structure has shown signs of improvement, according to a Bitfinex Alpha report, despite ongoing selling pressure from long-term holders. Last week, Bitcoin surged past the $94,000-$95,000 resistance zone, reaching a two-month high of $97,850, driven by robust spot demand. This rally led to the largest single-day short liquidation in nearly 100 days. Although Bitcoin's price has since retreated by about 6%, it has recovered its 2025 opening price and climbed over 21% from recent lows. The cryptocurrency is now navigating a dense supply zone between $93,000 and $110,000, where previous rallies have stalled. Long-term holders continue to sell, but the pace has slowed significantly from over 100,000 BTC per week at peak times to around 12,800 BTC per week. This reduction in selling pressure, coupled with seasonal support and strong order flow dynamics, suggests the market may better absorb the current supply. The report also highlights a complex global economic environment, marked by persistent inflation, uneven consumer resilience, and tighter regulations.