比特币价格在9万美元处暂停：什么将引发新年度行情？

Core Viewpoint - Bitcoin (BTC) is experiencing a stagnation in its momentum towards reaching $90,000 due to insufficient demand and weak on-chain activity, although new technical patterns suggest that a breakthrough above this level could enhance market momentum [2]. Demand and Market Activity - The actual demand for Bitcoin has turned negative, dropping to its lowest level since October, with Capriole Investment's indicator showing a significant decline in demand over the past two weeks, reaching -3,491 BTC [3]. - Since November 6, Bitcoin's actual demand had been positive, peaking at approximately 18,700 BTC on November 26, but has since sharply decreased, indicating weakening market demand [3]. - The Coinbase premium index, which measures the price difference between BTC/USD on Coinbase and BTC/USDT on Binance, has also seen a significant drop, falling from 0.031 on December 11 to -0.08 currently, indicating increased selling pressure from U.S. retail investors [6][8]. Price Resistance and Market Sentiment - For Bitcoin to achieve upward momentum in the new year, actual demand and purchasing power among U.S. investors must recover, with a critical resistance level at $90,000 that needs to be breached to trigger an upward trend into 2026 [4][10]. - The market is currently facing the risk of a "red" annual close for the first time post-halving, with BTC/USD trading down 6.6% from the beginning of the year at $93,300 [9]. - Analysts suggest that Bitcoin's bullish outlook hinges on the ability of bulls to break through the $90,000 resistance, which has been a strong support level in early December [10][12]. Technical Analysis and Future Projections - A potential hidden bullish divergence on the monthly chart indicates an upcoming upward breakout, with a favorable scenario if the monthly close is above $90,360 [15]. - A technical chart shared by Captain Faibik shows that a breakout from the $90,000 level, coinciding with an upward trend line on the 8-hour timeframe, could lead to a price surge towards a target of $122,000 [17]. - Other market analysts believe Bitcoin may continue to consolidate within a range until market volatility returns and clearer chart patterns emerge [19].