TechFlow news, December 23 — According to Cointelegraph, Bitcoin prices continued to decline, falling below the USD 94,000 mark. Although it briefly reached a high of USD 99,500 over the weekend, subsequent selling pressure has triggered a 15% pullback from last week's all-time highs. Several trading analysts have adopted a cautious stance on the short-term outlook.
Analyst Bitcoindata21 pointed out that the volume-weighted average price (VWAP) failed to hold as support and now acts as resistance, suggesting Bitcoin could retrace further to USD 92,000, with the USD 85,000–86,000 range potentially becoming a "buy-the-dip" zone for bulls. Trader CrypNuevo believes a V-shaped recovery is unlikely, and the market may retest the psychological support level of USD 90,000. Trader Jelle noted that Bitcoin’s current price action resembles that seen at the end of 2023, and a break below USD 90,000 cannot be ruled out this week, though he expects upward momentum to resume in 2025.
On the macro front, market sentiment has turned cautious following the Federal Reserve's hawkish policy statement last week. Data from CME Group shows that markets are pricing in only an 8.6% probability of a rate cut at the next FOMC meeting. The Kobeissi Letter warned that a resurgence in inflation could delay the Fed's pivot toward accommodative policy. Other analysts have highlighted that tightening global liquidity conditions may negatively impact Bitcoin and the broader cryptocurrency market.
