At the end of the year, in the final days of the crypto market, Bitcoin briefly surged back to $90,000 yesterday (December 29), but failed to hold steady. By this morning, it had slipped back to around $87,000, oscillating at this level.

What is driving this brief rally? Industry research teams point to a core factor: technical analysis. The $90,000 level is not unfamiliar; it has long been a clear resistance zone. When the price manages to rebound and reclaim this critical point, it often triggers a chain reaction—shorts start to cut losses and cover, causing a short squeeze that accelerates the price upward. Meanwhile, the technical momentum also attracts new buying interest to follow in.

From a more macro perspective, market sentiment is indeed changing. The cryptocurrency Fear and Greed Index has eased from the "Extreme Fear" state in mid-December to the "Fear" level. Although this shift may seem modest, it is significant in the current environment of thin liquidity—initial confidence stabilization can provide the necessary momentum for a price rebound. After a period of consolidation, key levels gradually turn into support zones, and this transition from resistance to support is enough to trigger a technical rebound.