The Bitcoin price is stuck around 90,000 dollars.

Bitcoin (BTC) tested the 90,000 dollar level but did not show a significant rise throughout December. Investor interest continues as the price moves within the 86,500 to 90,000 dollar range. Analysts attribute this situation to the outflows from Spot Bitcoin Exchange-Traded Funds (ETFs) and a decrease in investors' risk appetite.

According to Bitrue's research leader Andri Fauzan Adziima, there have been outflows exceeding 1 billion dollars from spot Bitcoin ETFs as of December. This situation may have created additional pressure on the Bitcoin price, influencing investors' selling decisions. Particularly as the year-end approaches, implemented tax-loss strategies and tendencies to reduce portfolio risk have increased selling activities among institutional investors.

Market sentiment, however, shows a general recovery. Vincent Liu, Chief Investment Officer at Kronos Research, points out the improvement in market sentiment, noting that the Crypto Fear & Greed Index has risen from the “extreme fear” level to the “fear” zone. This indicates that selling pressure may be weakening and that the market might be beginning to form a bottom.

Nevertheless, Bitcoin's relatively weak performance compared to traditional markets is noteworthy. While U.S. stocks have reached record levels, the Bitcoin price has reacted modestly to this rally. According to analysts, as we approach 2026, a resumption of ETF inflows, clarifications in the regulatory space, and Federal Reserve policies could create a new institutional narrative for Bitcoin.