Bitcoin News Today: Bitcoin's $90K Rebound: A Turning Point or Bear Market Truce?

Bitcoin's price action around $80,000 has sparked intense debate among traders and analysts, with miner behavior and on-chain data suggesting the formation of a local bottom. The cryptocurrency rebounded from a seven-month low of $79,500 in mid-November to $88,000 within days, a move analysts attribute to mid-sized wallet accumulation and institutional positioning. While large holders (whales) continue to offload Bitcoin, the stabilization of exchange inflows and a shift in ETF dynamics hint at a potential turning point for the market.

Technical indicators reinforce this narrative. Bitcoin's 50-day and 200-day exponential moving averages (EMAs) remain above $100,000 and $105,000, respectively, creating a ceiling for rebounds. However, the asset's ability to reclaim $90,000-a key support level-has alleviated immediate selling pressure, particularly among BlackRock ETF holders, who returned to a $3.2 billion profit as the price recovered. This marks a critical shift in sentiment for one of the largest institutional investor groups driving the market.

On-chain data reveals a complex interplay between whale and retail activity. Wallets holding 10,000–100,000 BTC and 1,000–10,000 BTC cohorts remain net sellers, while mid-sized wallets (10–1,000 BTC) have steadily accumulated, stabilizing the price during the recent dip. Analysts like Carmelo Alemán note that this redistribution of wealth from long-term holders to newer entrants near the top could signal a market reset. Meanwhile, futures markets show signs of leverage exhaustion, with long liquidations reaching levels last seen during the 2022 FTX crash, suggesting a potential cleanup of speculative positions.

The role of ETFs in Bitcoin's recovery cannot be overstated. BlackRock's iShares Bitcoin Trust (IBIT) saw two consecutive days of inflows for the first time in two weeks, totaling $21 million, as investors anticipated further rate cuts from the Federal Reserve. This contrasts with earlier outflows of $903 million in late November, which had pushed the price toward its 2025 low. The ETF's inflows have become a primary driver of Bitcoin's momentum, according to Standard Chartered's Geoff Kendrick, as institutional demand remains a key variable in the asset's trajectory.

Despite these bullish signals, caution persists. Bitcoin's 200-day EMA at $105,515 and the 100-day EMA at $105,562 still cap upward movement, and a failure to reclaim the 50-day EMA at $100,937 could see the price dip below $80,000 again. Analysts like James Check warn that leverage in derivatives markets could force a $70K–$80K sweep before a sustainable recovery, while others argue that the current dip represents a classic bear-market redistribution rather than a cycle low.

Looking ahead, Bitcoin's next test will come as it approaches the $97,000–$98,000 liquidity pocket identified by trader Daan Crypto Trades, a level reinforced by both technical and on-chain signals. If bulls can consolidate above this range, the path to $100,000 becomes more viable, though a retest of $88,000 is likely before a definitive trend reversal. For now, the market remains in a fragile equilibrium, with miner behavior and institutional flows serving as critical barometers of Bitcoin's next move.