#BTC Why is it currently fluctuating around 89,000?

Although it has experienced a sharp decline, the area around 89,000 USD is currently seen as an important bullish-bearish watershed (support level):

Technical rebound: After the price dropped sharply to 81,000 USD, some bottom-fishing capital entered the market, coupled with short sellers taking profits, leading to a technical "short covering" rebound, pushing the price back to around 89,000 USD. Institutional support: Large holding institutions like MicroStrategy have recently set up reserves to avoid being forced to sell due to liquidity pressure, which has stabilized market sentiment to some extent. Future speculation: The market is waiting for the results of the Federal Reserve's interest rate meeting in mid-December. If dovish signals are released at that time, Bitcoin may rebound quickly; conversely, if it falls below the 89,000 USD support, the next target may point to 77,000 USD.