Viewpoint: Bitcoin's return to $90,000 is driven by technical factors, with no new catalysts emerging

Presto Research researcher Rick Maeda stated, "Bitcoin's return above $90,000 is primarily driven by technical factors rather than any single new catalyst. The $90,000 level was a significant resistance point, and once Bitcoin stabilizes above it, it is likely to trigger short covering and momentum-driven buying."

Kronos Research Chief Information Officer Vincent Liu also expressed a similar view, stating that after a period of consolidation, Bitcoin rebounded at a technical support level, "the key price level has reverted to a support level."

Bitrue Research Director Andri Fauzan Adziima noted that Bitcoin's upward momentum reflects technical relief from options expiration and the correlation driven by altcoins. He also added that due to over $1 billion in ETF outflows related to tax loss harvesting and broader de-risking, Bitcoin "has basically fluctuated within the range of $86,500 to $90,000 in December."