Bitcoin Price Struggles at $90,000 as Christmas Trading Looms
Bitcoin briefly surpassed $90,000 but retreated, facing resistance influenced by U.S. trading patterns and macroeconomic uncertainty.Summary
The bitcoin price briefly crossed the $90,000 threshold on Monday, rallying from $88,000 during Asian hours before falling back, continuing a pattern where gains fade upon U.S. market entry. Bitcoin futures open interest is rising toward $60 billion, suggesting new leveraged positions, which heightens volatility risks if momentum stalls. Key technical support is near $84,000, with resistance at $91,400 and $94,000; a sustained hold above $90,000 could signal a bullish shift. Macroeconomic factors, including uncertainty around the Federal Reserve's policy due to delayed inflation data, are major influences. Investors are also awaiting Q3 GDP figures and consumer confidence data. Despite caution, evidenced by recent ETF outflows, historical seasonality suggests a potential “Santa Claus rally,” which could boost crypto if equity markets rally, although Bitcoin's historical performance during this period is mixed.
(Source：Bitcoin Magazine)