Analysis: Bitcoin price remains above $90,000, retail selling intensifies

Bitcoin is currently hovering in a fragile area just above $90,000, with retail sell-offs, significant capital outflows from ETFs, and rising downward hedging pressure continuing to determine the market structure before the end of the year.

Analysts indicate that the current trading records reflect an imbalanced flow of funds—short-term holders and Wall Street investors are selling off significantly, while long-term holders, often referred to as "whales," are steadily accumulating. BRN Research Director Timothy Misir pointed out that Bitcoin is at a "crossroads," with large holders continuously increasing their positions, while retail and short-term buyers are suffering substantial losses. Recently, approximately 31,800 Bitcoins were transferred to exchanges at a loss, while the number of wallets holding more than 1,000 Bitcoins increased by 2.2%, marking the highest growth rate in four months.