Bitcoin's recent attempts to recover above $89,500 faced challenges as selling pressure from bears persisted. Since December 15, over $1 billion has been withdrawn from Bitcoin exchange-traded funds, highlighting a trend of weakening investor sentiment. Despite this, some analysts remain optimistic, suggesting that a shift in institutional demand could facilitate a more sustained recovery.
Currently, Bitcoin's crucial support is identified at $84,000. If breached, forecasts indicate a potential decline towards $80,600 and possibly as low as $74,508. Conversely, a price close above the 20-day exponential moving average could set the stage for a rally towards $100,000.
In the broader cryptocurrency market, many major altcoins are struggling near their recent lows. Notably, Bitcoin Cash is showing relative strength compared to its peers. Analysts also suggest that cryptocurrency prices may remain influenced by Federal Reserve policies into the first quarter of 2026.