On December 5, 2025, the price of BTC exhibited extreme volatility, with a tug-of-war between bulls and bears. The following analysis is based on price performance, technical analysis, market conditions, and macroeconomic factors. Current situation:
1. Price Performance: The BTC market experienced significant fluctuations that day, briefly surging past $94,000 before dropping over 3%. It even fell below $91,000, and as of around midnight that day, the current price was $92,770, marking a 1.4% decline over the past 24 hours. More than 100,000 people in the market were liquidated, with a total liquidation amount near $320 million.
2. Technical Analysis: Currently, BTC is fluctuating within a strong support level at $90,600 and a strong resistance level at $94,150. Although the daily chart shows a bullish engulfing pattern indicating short-term rebound potential, the moving average system is tangled and the price is below the moving averages, resulting in unclear trend signals; the 2-hour chart shows a bullish state, with the EMA moving averages in bullish alignment supporting price strength, but multiple tests of the resistance near $93,000 have occurred. The market generally considers $94,000 to be a key level; if it cannot effectively break through, the bullish counterattack may struggle to make substantial progress.
3. Market and Macroeconomic Factors: Macroeconomically, the market is awaiting the results of the Federal Reserve's December interest rate meeting. The previous delay in interest rate cuts led to a stronger dollar, suppressing BTC prices, while a rate cut could be beneficial for future market trends. From the institutional side, sovereign wealth funds, BlackRock, and others accelerated their BTC accumulation when prices were low, and the exchange's BTC supply continues to decline, with both large holders and retail investors increasing their holdings, indicating a stronger willingness to hold long-term; however, at the same time, Europe has initiated a review of crypto assets, regulatory pressures continue, and some large whales locking in profits have also brought uncertainty to the market. #加密市场观察 #BTC走势分析 $BTC
