#比特币价格预测 Looking at the recent market analysis, I feel a bit emotional. The oscillation range from $86,000 to $92,000 has both bulls and bears stalemated at this level, and the scene feels familiar—reminding me of the final push of the 2017 bull market and the repeated tests after reaching a new all-time high in November 2021.

Wintermute's trading strategist said it well: year-end portfolio adjustments and tax considerations are indeed common during this period. Every year, this window tends to see profit-taking, driven by the rigid needs of institutions and large investors, rather than emotional breakdowns. Conversely, James Wynn turning from short to long, although his prediction accuracy has always been controversial, at least indicates that some seasoned traders have noticed the oversold signals and are willing to change positions.

What truly warrants attention are the underlying factors—forced liquidations, delays in crypto legislation progress, and weakening corporate buy-in effects. These are not technical issues but pressures from the ecosystem and policy levels. MicroStrategy's weak stock price and gold approaching historical highs are telling the same story: risk assets are under pressure, and safe-haven sentiment is rising.

Looking back at history, such stalemate periods often suddenly break when a catalyst appears. De Maere mentioned the large-scale options expiration in late December, which could be the trigger. But one thing I’ve learned is, don’t rush to bet on a direction—wait and see how the big institutions move.