Dec 31, 2025
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Bitcoin Struggles Below $90K Amid Potential Bullish Cross In Q1 2026
Bitcoin Market Overview
- Bitcoin is trading below $90,000, indicating a lack of bullish momentum after consolidation.
- Analysts express skepticism about a potential bear market extending into 2026.
- Some investors consider this phase as transitional rather than a complete trend reversal.
On-Chain Analysis
- Axel Adler notes the "Supply in Profit" metric dropped from 19 million BTC to 13.5 million BTC.
- The gap between the 30-day and 90-day moving averages has widened by roughly 1.75 million BTC.
- The 365-day moving average remains high, suggesting a possible future bullish phase if current levels hold.
Forecast and Moving Averages
- A forecast chart suggests convergence of the 30-day and 90-day moving averages could occur by late February to early March.
- The gap narrows by approximately 28,000 BTC per day due to a decline in the 90-day average.
- $70,000 is a critical level; falling below it could invalidate the convergence thesis.
Price Resistance and Market Sentiment
- Bitcoin struggles below the $90,000 resistance, reflecting structural market weakness.
- Price consolidates below key moving averages (50-day, 100-day), reinforcing a bearish trend.
- The absence of strong buying volume indicates cautious sentiment among buyers.
- For a sentiment shift, Bitcoin needs to reclaim the $90,000 level; otherwise, downside risks persist with $85,000 as near-term support.
