#现货比特币ETF流动 Seeing Bitcoin climb back to 90,000 has some people getting excited again, but I have to pour some cold water on it—this rebound is essentially just a technical short covering, with no new fundamental catalysts.

This is a detail that's easy to overlook. What's behind the $1 billion ETF outflows? Tax loss harvesting and broad de-risking. To put it plainly, big players are fleeing while retail investors are chasing. Throughout December, Bitcoin has been bouncing between 86,500 and 90,000 repeatedly. You might think it's accumulating strength, but in reality, it's building a top.

Options expiry, technical support rebounds, and altcoin correlation drives—these are all short-term emotional games. I've seen too many people heavily invested in the illusion of "re-establishing stability," only to get swept up in the volatility. The key levels turning from resistance to support sound promising, but without new capital entering, it's like building castles on the sand.

The true investment logic is: don't follow the trend without a new catalyst, and don't chase highs without incremental funds. Those claiming a technical reversal are often just telling stories to catch the bag holders. Experienced investors know that the safest approach is to wait for a genuine fundamental turning point, rather than gambling on probabilities within oscillating bands.