View: Bitcoin Returns to $90,000 Driven by Technicals, No New Catalyst in Sight

December 29 — Presto Research researcher Rick Maeda noted that Bitcoin’s push back above $90,000 is primarily driven by technical factors, not a single new catalyst. “The $90,000 level was a clear resistance zone, and once Bitcoin found its footing, it likely triggered short covering and momentum-fueled buying pressure,” he said. Kronos Research Chief Information Officer Vincent Liu echoed this view, stating Bitcoin rebounded after a period of consolidation at a technical support level — with that “key level now flipped back to a support level.” Bitrue Head of Research Andri Fauzan Adziima added that Bitcoin’s upward momentum reflects technical relief tied to options expirations and altcoin-led correlation. He also noted over $1 billion in ETF outflows (linked to tax loss harvesting and broader de-risking) weighed on Bitcoin in December, which “essentially traded within a range of $86,500 to $90,000.” (Source: The Block)