As reported by AMBCrypto, Bitcoin slipped back from the $90,000 mark on 22 December, marking another rejection at a level that has repeatedly capped upside momentum this month. The move comes as Bitcoin’s short-term correlation with gold has fallen further into negative territory, suggesting the market is treating BTC less like a macro hedge and more like a high-beta risk asset. Bitcoin briefly pushed toward $90,500 before sellers stepped in, dragging the price back into the $88,000 range. This is another rejection near $90K in the past two weeks, reinforcing the zone as strong resistance. Price has also continued to print lower highs since early December, creating a tightening structure that reflects weakening bullish conviction. The gold correlation coefficient on the 12-hour chart dropped to around -0.14, down from positive readings in late November. A negative correlation means Bitcoin and gold are moving in opposite directions, breaking from the pattern seen throughout most of Q4 when BTC often mirrored gold’s flight-to-safety bid. This shift typically appears when traders rotate out of defensive assets and reposition into higher-risk markets — but historically, it has also preceded short-term volatility spikes for BTC. When Bitcoin begins to decouple from gold during corrective phases, the market often enters a period of instability before a clearer direction emerges. Below the price, the $86K–$87K range remains the nearest support zone that has repeatedly absorbed sell pressure over the past month. A breakdown beneath this area would expose the next liquidity pocket around $83K. On the upside, bulls would need a clean break and close above $90.5K to invalidate the current pattern of lower highs and regain directional momentum. For now, the repeated rejection at $90K, combined with a falling correlation to gold, shows a market caught between fading macro support and hesitant spot demand. Until one of these key levels breaks, Bitcoin is likely to remain range-bound with a bias toward volatility as the correlation shift plays out.
Bitcoin Rejected at $90K as Correlation with Gold Turns Negative
AMBCryptoShare
Summary
Bitcoin news shows the price slipping back from the $90,000 mark on 22 December, again failing to break through a level that has repeatedly limited gains this month. Bitcoin analysis reveals a deepening negative correlation with gold, now at -0.14, indicating BTC is shedding its safe-haven appeal. The price briefly hit $90,500 before retreating to $88,000, reinforcing $90K as strong resistance. Lower highs since early December signal fading bullish momentum. The $86K–$87K support zone remains key, with a breakdown threatening $83K. A close above $90.5K would challenge the bearish trend. For now, the market appears stuck between weak macro support and uncertain demand.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.