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Bitcoin hovered close to $90,000 on December 7 as traders positioned for the US Federal Reserve meeting on December 9 and December 10. Price action followed a rebound from the mid-$80,000s after yen carry trade concerns eased. Markets balance rate expectations with mixed technical signals.
Analysts also tracked a return of US spot Bitcoin ETF inflows and a drop in spot trading activity on major exchanges. These factors left the Bitcoin price outlook uncertain.
Veteran market watcher Peter Brandt highlighted a broadening formation that he believes may be steering the current Bitcoin correction. He said the rise toward approximately $94,000 may have tested the upper boundary of the pattern. The structure, in his view, favors a rotation lower rather than a breakout.
Brandt identified $80,200 as a key support level. He also pointed to a deeper marker near $58,800 if selling pressure intensifies. Those levels remain well below the current price, but they reflect the downside risk he monitors.
Another technical perspective stressed the importance of reclaiming and holding the $89,000 area. Analyst Titan of Crypto said failure to stabilize above that zone could open room toward about $83,900. The market has not revisited that support since early in the month.
Year-end positioning remains split. Prediction-platform data showed bets across three paths. Some traders target near $80,000. Others favor $95,000. A smaller group still looks for $100,000 before 2026. Traders appear to hedge across several outcomes ahead of the Fed decision.
Michaël van de Poppe expects a tight range until the Fed provides clarity on policy. He outlined a possible band between about $92,000 and $85,000. A 25-basis-point cut remains the base case in market pricing.
Arthur Hayes offered a more aggressive upside scenario. He argued that improving dollar liquidity and a shift away from tightening could support a stronger rally. His view is placed above many current forecasts.
US spot Bitcoin ETFs recorded improved flow trends after weeks dominated by outflows. The funds logged eight positive sessions in the last ten, suggesting institutions may be rebuilding exposure. Traders watch these flows for early signs of sentiment change.
Spot market participation, however, weakened in November. Analyst Darkfost reported that Binance spot volume fell from about $198 billion in October to $156 billion in November. He also noted declines at several other exchanges.
Darkfost added that futures activity now represents a larger share of overall trading. A lower spot-to-futures ratio can reflect greater reliance on short-term positioning. It may also limit the strength of rebounds if spot demand does not recover.
Also Read: Bitcoin News Today: Gold And Silver Race Ahead While BTC Stalls In Market Shift
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