Bitcoin tops $90,000 amid thin liquidity but remains range-bound, analysts say

Bitcoin briefly climbed above $90,000 late Sunday ahead of the New Year, trading at $90,200 before slightly pulling back, while Ethereum also saw gains. Analysts suggested this move was driven primarily by technical factors, such as reclaiming the $90k resistance level triggering short covering and momentum buying, rather than new fundamental catalysts. Despite this spike, Bitcoin remained range-bound between approximately $86,500 and $90,000 throughout December, weighed down by over $1 billion in ETF outflows linked to tax-loss harvesting. Market sentiment is stabilizing, with the Fear & Greed index moving from "extreme fear" to "fear," but Bitcoin has lagged traditional markets, showing little reaction to U.S. equity rallies. Analysts note that thin year-end liquidity makes prices more sensitive to small flows, and future momentum depends on holding above $90k and monitoring liquidity into early January, alongside potential catalysts like ETF inflows and regulatory advancements in 2026.

(Source：The Block)