Bitcoin Wobbles Near $90K as Traders Wait for a Year-End Signal

Getting your Trinity Audio player ready...

• $90,000 is the key level shaping Bitcoin’s short-term direction
• Macro data may replace Fed policy as the main market driver
• Speculative capitulation could be clearing the way for a rebound

Bitcoin is heading into the final full trading week before Christmas under pressure, with price action stuck in a tight range and conviction fading on both sides of the market. After weeks of choppy movement, BTC is once again testing the psychological $90,000 level, a zone that could shape sentiment into the new year.

With no clear catalyst in sight and macro data flooding in, traders are preparing for more sideways action — unless a liquidity-driven move forces the issue.

$90K Support Under the Microscope

Spot Bitcoin markets remain directionless, oscillating within a stubborn range that has frustrated both bulls and bears. Liquidity data suggests that $95,000 is emerging as a short-term magnet, with clustered orders making it a likely target for a stop-hunt move.

At the same time, $90,000 has become a key decision point. A clean break above it could open the door to a fast push toward the mid-$90,000s, while repeated rejection risks a deeper pullback. Until one of those levels gives way, traders appear unwilling to commit size.

This really looks like a range and it’s trading like one

Bear Flag or Bullish Reset?

Technically, Bitcoin’s daily chart has sparked debate. Some see the current structure as a classic bear flag — a pause before another leg down. Others argue the pattern is misleading and that the market is instead carving out a higher low within a broader bull cycle.

Zooming out, the monthly chart still suggests resilience. Despite a sharp pullback from recent highs, Bitcoin has yet to show the kind of structural damage typically seen at the start of a prolonged bear market. For now, the consolidation looks more like exhaustion than collapse.

Macro Data Returns to Center Stage

This week brings a heavy slate of US economic data, including jobs and inflation figures that were delayed earlier in the year. With the Federal Reserve already having delivered a predictable rate cut, markets are shifting focus back to growth, inflation, and liquidity.

While easing financial conditions usually favor risk assets, Bitcoin has recently lagged stocks and gold. That divergence raises the stakes: strong macro data could reignite upside, but surprises may add pressure to an already fragile setup.

Speculators Flush Out Weak Hands

Onchain data points to a quiet reset underway. Short-term holders are realizing losses at a much faster pace than long-term investors, a pattern historically associated with market cleanups. These phases often remove speculative excess and lay the groundwork for stronger recoveries.

Bitcoin’s battle around $90,000 reflects a market caught between uncertainty and opportunity. With liquidity levels tightening, macro data looming, and speculative froth clearing, a decisive move may be closer than it looks. Whether it breaks higher or dips first, the current calm is unlikely to last much longer.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.