The bitcoin price briefly crossed<\/a> the $90,000 mark earlier Monday, rallying from $88,000 during Asian trading hours to just above $90,000 in European and US afternoon trading.\u00a0<\/p>\n The surge didn\u2019t last long as the bitcoin price dropped down near $88,000 by the end of afternoon.\u00a0<\/p>\n BTC has displayed a pattern in recent weeks of gaining momentum during Asian and European trading hours, only to see those advances fade once U.S. investors re-enter the market.\u00a0<\/p>\n Data from CoinGlass show<\/a> that bitcoin futures open interest climbed earlier in the day toward $60 billion across major trading venues including Binance, CME, and Bybit. The increase suggests<\/a> fresh leveraged positions are entering the market, rather than mere short-covering.<\/p>\n Rising open interest alongside higher prices does not necessarily signal immediate trouble. But it does heighten the stakes. If momentum stalls, crowded long positions could unwind rapidly, prompting steep pullbacks.\u00a0<\/p>\n Conversely, if the rally holds, leverage could amplify upside potential.<\/p>\n A sustained move and hold above<\/a> $90,000 could signal a shift away from the pattern of sharp early-day sell-offs that has characterized much of December. A sustained hold above this level would suggest bullish momentum, while failing to do so may indicate the continuation of the market\u2019s tendency toward lower highs and rapid pullbacks.<\/p>\n Support for the bitcoin price remains near $84,000, a level that has proven resilient in recent weeks. Immediate resistance lies at $91,400, with the next key level at $94,000. Beyond $94,000, analysts point to $98,000 and a zone between $101,000 and $108,000 as strong resistance.<\/p>\n Closing above $108,000 could challenge assumptions that bitcoin price\u2019s 2025 peak marks a long-term top, according to Bitcoin Magazine analysis.<\/p>\n Despite the rally, the U.S. macroeconomic environment remains<\/a> a key influence on bitcoin\u2019s price trajectory. The Federal Reserve\u2019s policy path is uncertain, in part due to delays in key inflation data caused by the recent government shutdown.<\/p>\n Gabriel Selby, head of research at CF Benchmark, told<\/a> DLNews<\/em> that until the Fed receives several months of uninterrupted inflation readings, market participants are unlikely to commit fully to risk assets like bitcoin.<\/p>\n Investors are also monitoring upcoming U.S. economic indicators. GDP figures<\/a> for the third quarter are due tomorrow, with forecasts pointing to roughly 3.5% annualized growth, slightly below the second quarter\u2019s 3.8% pace. Consumer confidence data and weekly jobless claims will provide additional insights into the labor market, potentially influencing risk appetite.<\/p>\nBitcoin price technical levels<\/h2>\n
Potential \u2018Santa Rally\u2019<\/h2>\n
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