Recently, Bitcoin has been repeatedly hovering around 87,000, appearing calm on the surface, but behind the scenes, it hides the final showdown between the bulls and bears.

From a news perspective, the calm surface is because major moves have been held back until January. Federal Reserve chair transitions, Supreme Court rulings, updates to crypto regulation frameworks, SLR rule adjustments... any of these events could shake the market by more than 10%. But why is there no reaction now? Because the year-end closing and tax-selling wave have just ended, and institutions are busy closing positions and resting. Once January 1st resets the date, they will make real bets with real money. So this silence is more a suppression before the storm than peace.

From a technical standpoint, the 87299 level has become a key point. On the 4-hour chart, the MACD has already issued a yellow warning, indicating insufficient energy and that a direction is about to be chosen. This means both bulls and bears are waiting—waiting for a sufficiently impactful signal to appear.

The key is not to be fooled by the apparent stability at year-end. The real action point is in January. The most prudent approach now is to choose a direction, control risks, and wait for those suppressed events to unfold one by one.