#加密市场行情分析 Bitcoin retakes 90,000. After reviewing the trading records of several top traders, I found an interesting point—most people are not aggressively adding positions at this level; instead, they are observing.

The technical-driven momentum is indeed real. Once the 90,000 resistance level is reaffirmed as support, short covering and momentum buying naturally follow, which is part of the market’s self-repair process. But here’s a detail worth noting: the $1 billion ETF outflow in December indicates that institutions are engaging in tax-loss harvesting, meaning the bottom range (86,500-90,000) has already fully priced in the risk.

Regarding follow-trade strategies, I’ve observed a divergence between two types of traders: one aggressive type adds to positions during rebounds, betting on a technical breakout; the other conservative type reduces positions at the 90,000 threshold to hedge risks—both groups can profit, but the key is to match position sizes with your risk appetite. If you are a cautious follower, tracking both strategies at this time can actually help you control drawdowns through hedging.

Be cautious of the lack of new catalysts, which suggests that the market may continue to fluctuate sideways in search of direction. Don’t be fooled by the rebound.