Bitcoin should be watched closely for its reaction after the US stock market opens when it approaches $90,000. In low liquidity environments, the influence of US stocks tends to be more pronounced, so a pullback to around $88,000 in the evening is not surprising.

The $90,000 level is indeed a psychological barrier. Although the specific reasons are unclear, the increasing trading volume suggests that there are quite a few bulls still holding strong. To achieve a definitive breakthrough, stronger positive catalysts are needed.

After Monday, the turnover rate remains lukewarm, indicating that the high-frequency trading crowd is still on holiday. The slight decline in US stocks is also understandable—there haven't been any key data releases or important speeches recently, as everyone is digesting the uncertainties for 2025.

From the distribution of holdings, there is a high probability of forming a new bottom around $83,000. Especially since over 800,000 BTC are concentrated near $87,000, which indicates rising risks of high volatility. However, in the short term, the market still appears relatively stable, as early trapped positions remain solid as a rock.

Trading suggestion: Consider going long if the price dips to the $86,300–$85,600 range, with the initial rebound target at $87,200–$88,400. If the price rebounds to around $89,400–$90,000, consider shorting, with the lower target at $86,800–$85,800.