Bitcoin's Struggle to Hit $90K: What's Holding It Back?

Demand Drops to October Lows Bitcoin's demand has plummeted, reaching levels not seen since October. This significant drop is a major concern for investors, indicating a cautious approach to buying Bitcoin at present.

Coinbase Premium Index Turns Negative The Coinbase Premium Index, a gauge of US investor interest in Bitcoin, has been negative for the past two weeks. This trend suggests that more investors are selling than buying, casting a shadow over Bitcoin's price prospects.

Struggle to Break $90,000 Mark Bitcoin's price has faced rejection four times since mid-December, struggling to surpass the $90,000 threshold. However, there is still potential for a turnaround. If Bitcoin can reclaim the $90,000-$92,000 zone, it could regain momentum.

Analyst Predictions Diverge Some analysts predict a significant rally if Bitcoin can break out of its current pattern. Conversely, others believe Bitcoin may remain within its current range until market volatility increases.