Bitcoin price is stuck around $90,000.

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

According to Andri Fauzan Adziima, research leader at Bitrue, there has been a total outflow of more than 1 billion dollars from spot Bitcoin ETFs as of December. This has potentially added extra pressure on Bitcoin's price, influencing investors' decisions to sell. Particularly as the year ends, implemented tax loss strategies and tendencies to reduce portfolio risk have increased institutional investors' selling activity.

Market sentiment, however, is generally showing signs of 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 an "extreme fear" level to the "fear" zone. This suggests that selling pressure may have weakened and that the market could be beginning to form a bottom.

Despite this, Bitcoin's relatively weak performance compared to traditional markets is noteworthy. While U.S. stocks reach record levels, the Bitcoin price has shown limited response 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 narrative for institutions regarding Bitcoin.