Bitcoin failed to extend gains above $94,000, reversing from the $94,500 area. On the BTC/USD hourly chart (Kraken), price broke the rising trend line near $91,600 and fell below $92,000 and the 100-hour SMA, putting $89,500 support at risk. Key resistance is now clustered at $91,200–$92,000. The MACD is bearish and the RSI is below 50.

Analysts say two Bitcoin wallets tied to Silk Road-era activity moved 3,421 BTC in May 2025. On-chain data indicates the funds were consolidated into new SegWit custody rather than sent to exchanges. On Dec. 10, more than 300 Silk Road-labeled wallets carried out over $3 million in additional consolidation. The pattern points to housekeeping moves that differ from past U.S. government transfers routed to Coinbase Prime.

Filed on December 9, the Nicholas Bitcoin and Treasuries AfterDark ETF would trade only between the U.S. market close and the next day’s open. The fund would avoid spot Bitcoin and allocate at least 80% of its assets to futures, ETFs, ETPs and options. A backtest using a night‑only strategy on the iShares Bitcoin Trust ETF (IBIT) since January 2024 showed a 222% gain, compared with a 40.5% loss during daytime sessions, according to Bespoke Investment Group.

Federal Reserve officials approved a 25 basis point rate cut at Wednesday’s FOMC meeting, while Bitcoin traded near $92,000 as markets had largely anticipated the move. Analysts note a developing double-bottom around $83,000 support and highlight the Fed’s planned $40 billion in Treasury bill purchases over 30 days as a potential liquidity boost. If the $90,000–$92,000 zone holds, BTC could retest resistance near $100,600 to $108,000.

Ark Invest CEO Cathie Wood told Fox Business on Tuesday that large institutional investors are reshaping Bitcoin’s long-term pattern, weakening the historic four-year halving cycle. She said past 75%–90% crashes are giving way to shallower pullbacks as ETFs, corporate treasuries, and other regulated products lock up supply. Analysts are split, with some declaring the cycle "dead" while others present data suggesting the current market structure still lines up with prior multi‑year peaks.

Bitcoin held the $92,700–$93,000 area but repeatedly met resistance near $94,000, leaving upside momentum uncertain. Retail optimism increased even as price stalled, while bearish RSI divergence pointed to fading strength. A clear break above $96,500 could tilt the bias toward a reclaim of $100,000, with $105,000 still identified as the upper objective.

On Wednesday, Federal Reserve Chair Jerome Powell used a press conference to explain the rationale for a 25bps rate cut and to lay out a plan to buy roughly $40 billion in Treasury bills to keep bank reserves ample. He said tariff-driven goods inflation appears to be a one-off shift in the price level, while rising labor‑market risks now outweigh inflation concerns, opening the door to further easing. This policy pivot and the planned liquidity injections are viewed as creating a more supportive macro backdrop for Bitcoin and other digital assets heading into 2026, according to the press conference remarks.

The U.S. Federal Reserve began its final meeting of the year on 9 December, with traders mostly pricing in a 25 bps rate cut and only a small chance of 50 bps. Bitcoin rose 5.7% in 12 hours to touch $94k, but analysts flagged resistance at $94k–$96k and warned that a drop below $90.6k and $89.9k could mark the start of a deeper pullback, according to CME Group’s FedWatch tool. Previous 25 bps cuts in September and October were followed by BTC declines of 8% and 12%, so traders are advised to stay cautious around these critical price zones.