Bitcoin Reaches $90K but Demand Slows; Break Above $90K–$92K Could Fuel 2026 Uptrend Toward $122K

Bitcoin stabilized near $90,000 as year-end activity cooled and momentum faded amid softer demand. It remained above the $84,000 support, testing the $90,000–$92,000 band. A durable breakout above this zone would signal a renewed uptrend.

Net on-chain demand, defined as market buy demand minus new sell supply, dipped to about -3,491 BTC—the lowest in months—reflecting a risk-averse backdrop in year-end trading.

The Coinbase premium index, a US sentiment gauge, slipped to -0.08, signaling selling pressure. Analysts warn that long positions require cautious timing until sentiment improves.

Bitcoin spot ETFs posted about $782 million in weekly outflows, signaling softer risk appetite among large players. A return to net inflows could serve as a bullish catalyst.

On the technical side, a hidden bullish divergence on the monthly chart has been noted; a monthly close above $90,300 would reinforce the bullish setup, with potential upside targets discussed around $122,000.