Bitcoin (BTC) counts down to Christmas at a crossroads with bulls and bears locked in a struggle for control.
Bitcoin price targets become increasingly divergent as frustration builds over the lack of a breakout.
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Bitcoin is no longer in price discovery mode as the Bull-Bear Market Cycle Indicator sees multiyear lows.
The Coinbase Premium is back in the red, with US sellers staying strong.
Sentiment bets give rise to calls for a contrarian market move higher.
Bitcoin end-of-year breakout bets diverge
After initially wobbling at the weekly close, Bitcoin saw some much-needed relief as bulls sought to revisit $90,000.
Data from Cointelegraph Markets and TradingView shows BTC/USD circling multiday highs on Monday.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Traders have become increasingly polarized on the outlook, with some warning of a return to yearly lows while others anticipate a full bull-market rebound.
In his latest analysis on X, trader CrypNuevo considered both outcomes possible.
Sellers, he argued, had disposed of the majority of their capital in the two months since Bitcoin saw its latest all-time highs of $126,000.
“I believe that there probably isn’t much left to sell right now. So the main bearish scenario is a sweep of the lows,” he wrote.
“Losing $80k would take price to the next support at $73k-$72k, but this information makes it more unlikely – unless if there is a new trigger for it to happen.” BTC/USD one-day chart. Source: CrypNuevo/X
Instead, CrypNuevo eyed the 50-day exponential moving average (EMA) near the $93,500 yearly open as a potential target.
“With this information, it wouldn’t surprise me to see an aggressive pump by EOY and the start of 2026,” the X thread continued.
“Clearing the local resistance at $94.5k (matches with the 1D50EMA) would be a clear sign. And then, it’d face a strong resistance at $100k.” BTC/USD one-day chart with 50EMA. Source: Cointelegraph/TradingView
Expectations of the coming months also vary. Among the bearish takes is that of trader Killa,…
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