Bitcoin Plots Comeback Against Gold Below $90,000
Bitcoin traded around 1% lower on Tuesday, with price action subdued after rejection at $90,000 and continued difficulty breaking above key technical resistance at the 4-hour 200 moving averages. Traders anticipate further downside, looking to buy around $86,800 if support holds, while any rallies toward $90,000 have faced heavy selling. A large trader opened significant short positions on Bitcoin, Ethereum, and Solana, totaling nearly $250 million. Despite this bearish short-term sentiment and Bitcoin’s range-bound movement, some analysts note bullish divergences on higher timeframes, suggesting a potential bottom and an eventual move back above $100,000. Meanwhile, gold and silver hit record highs, outperforming Bitcoin amid thinning holiday liquidity.
