#比特币价格上涨 Bitcoin returns to $90,000, but the driving force behind this rebound is worth noting. According to analyses from multiple institutions, this is mainly a technical factor—after $90,000 shifted from resistance to support, triggering short covering and momentum buying, rather than a new fundamental catalyst.

From a capital perspective, December's situation is quite interesting: BTC mostly fluctuated within the 86,500-90,000 range, during which it experienced over $1 billion in ETF capital outflows (tax-loss harvesting + de-risking), but at the same time, options expirations provided technical relief. This hedging effect caused the price to repeatedly test levels.

Simply put, the current rise is driven by inertia, not a new signal. In the short term, the key is whether the $90,000 level can hold—if it breaks, where is the next support; if it stabilizes, whether capital will follow is the decisive factor. Recent ETF net outflows are still ongoing, which is an indicator that needs continuous monitoring.