As 2025 draws to a close, global financial markets are exhibiting clear signs of risk aversion in the final trading week. Yesterday (the 29th), all three major US stock indices fell, while gold and silver retreated from their all-time highs. Bitcoin (BTC) bulls attempted to conquer the psychological barrier of $90,000, peaking at $90,406, but subsequently faced strong selling pressure, leading to a rapid pullback. As of press time, BTC is consolidating around the $87,000 level.

US Indices Close Lower with Tech Stocks Hit Hardest

The correction in the crypto market is not an isolated event but has been heavily dragged down by traditional financial markets. Last night, US stocks performed poorly, with a rare collective decline across all three major indices.

Market analysts point out that as the year-end approaches, institutional investors are making final portfolio adjustments. To lock in annual gains and avoid potential risks over the New Year transition, significant capital is moving out of tech stocks, which have seen massive gains this year. This profit-taking strategy led to the Nasdaq leading the decline, putting pressure on tech giants like NVIDIA and Tesla.

Technical Analysis and Support Levels

From a technical perspective, the $90,000 to $92,000 range has established itself as a formidable resistance zone for Bitcoin. Failure to effectively break and hold above this level in the short term could see BTC testing lower support levels. Key support zones to watch are at $85,000 and $82,000.

For investors, a defensive strategy is currently advisable. Until the New Year holidays conclude on January 1st and institutional capital returns, the market is likely to maintain this pattern of high volatility. It is recommended to closely monitor capital flows after the US stock market opens, as well as changes in open interest on CME Bitcoin futures.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.