Bitcoin price is currently pausing at the $90,000 level: breakout attempts face resistance, and both on-chain data and investor sentiment show weakening demand. Based on a combination of on-chain metrics, ETF data, and technical patterns, there is no clear sign of renewed growth without a recovery in buying interest.
Current Bitcoin Price Situation
At the nearest resistance of $90,000, the price has repeatedly stalled — since December 15, this level has pushed the price back four times. Meanwhile, the BTC/USD pair trades 6.6% below the yearly open of $93,300, making the year potentially unprofitable post-halving if bearish pressure persists.
Declining Demand for Bitcoin
Capriole Investments’ metric shows visible demand has turned negative, reaching −3,491 BTC on Monday, a level last seen in October. Simultaneously, the Coinbase premium index fell to −0.08 from 0.031 on December 11, signaling increased selling pressure from US exchanges.
This is compounded by outflows from spot ETFs: $782 million left over the past week, indicating risk-averse sentiment among institutional investors. Together, these factors reflect a more cautious demand outlook in the short term.
Key Levels and Technical Scenarios
The $90,000 level is critically important: its hold and successful breakout will determine the next price direction. The price currently holds support around $84,000, but momentum is expected to return only after reclaiming the $90,000–$92,000 zone.
Technical observations suggest two possible scenarios: if bulls manage to break above $90,000, measured targets from certain chart patterns point to a move toward $122,000. Otherwise, the market may continue range-bound trading until a clearer pattern and volatility emerge.
Analysts’ Opinions
Some analysts note a hidden bullish divergence on the monthly chart, which could signal potential future growth if demand recovers. Others warn that without inflows from both retail and institutional buyers, sideways movement may persist.
Why This Matters
For miners operating any number of devices, the current state means short-term profitability from selling mined BTC may be less predictable due to unstable demand and ETF outflows. Selling pressure from the US and negative on-chain metrics could keep the price range-bound, influencing miners’ timing for liquidating holdings.
What to Do?
If you operate between 1 and 1,000 devices, it’s advisable to maintain a flexible strategy: stagger sales to avoid reliance on a single entry or exit point, and monitor key levels at $84,000 and $90,000 to guide decisions. Reassess your operational cost coverage plan and factor in potential prolonged ETF outflows when budgeting.
Also, stay updated on demand dynamics and technical analysis: a detailed breakdown of the reasons behind the $90,000 resistance can be found in our article Why Bitcoin Can’t Break $90,000, and a comparison of weekly signals helps evaluate the bulls vs. bears balance in Bitcoin Price Analysis This Week.
In Brief
Without a recovery in retail and institutional demand, a breakout above $90,000 is unlikely, and the current price pause may extend. At the same time, the technical scenario retains growth potential up to $122,000 if the level is decisively broken.