Bitcoin surges and pulls back at year-end: $90,000 gained and lost, bulls and bears enter fierce competition

On December 30, 2025, the Bitcoin market once again experienced a rollercoaster. The price temporarily broke through the $90,000 psychological barrier, reaching above $90,200, igniting a brief FOMO sentiment in the market. However, the rally was short-lived. Due to macro pressures such as weakness in Nasdaq futures, Bitcoin quickly retreated and has now fallen below $88,000. Within just a few hours, open interest in contracts surged by approximately $2 billion during the rally phase, highlighting intense short-term capital battles.
On-chain data further reveals the market’s bullish and bearish disagreements. Since late November, whales (addresses holding over 1,000 BTC) have continued to dominate buying, showing confidence in the future market. Meanwhile, retail investor funds have shown clear signs of exiting. Some large holders have also turned cautious — a whale who previously sold 255 BTC recently opened a short position worth $36 million with 10x leverage, making the bullish and bearish camps’ divergence even sharper.
Market sentiment is also polarized. On one side, community FOMO continues to ferment, with frequent bullish signals from contract traders, boosting short-term long positions; on the other side, institutional signals remain cautious. CoinShares’ latest report shows that last week, digital asset investment products experienced a net outflow of $445 million, reflecting some institutions’ wait-and-see approach or reduction of holdings at year-end.
Potential breakout points are also closely watched. If Bitcoin can effectively break through the key resistance at $92,304, the total liquidation of short positions on major exchanges could reach as high as $1.714 billion, potentially triggering a short squeeze and a bullish rally. This warrants close attention.
Within the crypto community, opinions vary. Crypto analyst Thiafiro pointed out that liquidity above 91k is dense for shorts, and a volume breakout could test the 94k target. He has adopted a left-side long strategy, with stops to recover losses if it fails. Legendary trader @thankUcrypto believes that after last week’s extremely low volatility, funds are flowing back into the market, which could lead to larger swings. He plans to continue actively participating.
On the trading front, the current strategy remains swing-based. 91k has become a short-term bull-bear dividing line: if volume can stabilize above it, the market could aim for 94k; if it fails to break through, short-term pullback risks will significantly increase. Investors are advised to use 91k as a core risk control anchor, strictly implementing stop-losses. As year-end liquidity thins, volatility is prone to amplification. Continuous attention to macro dynamics and on-chain fund flows is necessary to maintain rationality and caution. #加密行情预测 $BTC