#数字资产生态回暖 BTC repeatedly struggles at the key level of $90,000 — Market Observation for December 13

Yesterday, Bitcoin's performance was quite simply: dull.

It hovered all day around $90,100 — opening at $90,281, spiking to $90,614, then dropping back to $89,988, with a range of only $626. Trading volume has also decreased significantly compared to the past two days. The market seems to be waiting for something, with both bulls and bears showing little action.

The $90,000 level is quite interesting. Throughout the day, the price kept bouncing around this area, testing it multiple times without breaking through. From a technical perspective, this has become a key support level recently — also the equilibrium point between bulls and bears. Many analysts are watching this closely; if the daily close effectively breaks below this level, a move toward $88,000 might be expected.

Volatility data also reflects the market’s cautious attitude. The 30-day implied volatility has now fallen to an annualized 45.1%, hitting a recent low. What does this indicate? It suggests that large funds are on the sidelines. What are the mainstream financial institutions recommending now? Keep cryptocurrency allocations between 1% and 5% in your portfolio. In other words, buy if you want, but avoid heavy positions.

From a macro perspective, BTC has already experienced a significant pullback from its November high. Short-term sentiment is noticeably subdued, although inflows remain decent and the fundamentals are holding up. However, this "pre-event quiet period" feels very apparent — the market is waiting for signals, especially the Bank of Japan’s interest rate decision next week.

The core points for short-term trading are these:
- Whether $90,000 can hold is the first signal
- If upward, resistance is around $94,000
- Beware of directional breakouts after low volatility

Overall, we are in a consolidation phase. Next week’s central bank meetings could be a turning point.