Bitcoin price is stuck around 90,000 dollars.

Bitcoin (BTC) tested the $90,000 level but has not shown a significant rise throughout December. Investor interest continues as the price fluctuates between $86,500 and $90,000. Analysts attribute this situation to outflows from Spot Bitcoin Exchange-Traded Funds (ETFs) and a decrease in the risk appetite among investors.

According to Andri Fauzan Adziima, the research lead at Bitrue, there have been over $1 billion in outflows from spot Bitcoin ETFs as of December. This situation may have added extra pressure on Bitcoin's price, influencing investors' selling decisions. Particularly as the year comes to a close, the implementation of tax loss strategies and tendencies to reduce portfolio risk have increased selling actions among institutional investors.

Market sentiment, however, is generally showing signs of recovery. Vincent Liu, the Chief Investment Officer at Kronos Research, points out the improvement in market sentiment, noting that the Crypto Fear & Greed Index has risen from "extreme fear" to the "fear" zone. This situation indicates that selling pressure is weakening and the market might be starting to form a bottom.

Despite this, Bitcoin's weak performance compared to traditional markets is noteworthy. While U.S. stocks reach record levels, Bitcoin’s price reacts limitedly to this rally. According to analysts, as we approach 2026, a resurgence in ETF inflows, clarifications in regulatory measures, and the Federal Reserve's policies could create a new institutional narrative for Bitcoin.