Bitcoin recovers above $90,000 and heads for a rebound: ”The Santa Rally needs to break through this price”

Bitcoin (BTC), which had fallen to the $88,000 range the previous day, has recovered to the $90,000 range and is on a rebound.
As of 10:55 AM on the 8th, according to CoinMarketCap, Bitcoin
The price of 1.91% higher than the same time the previous day reached $91,089 (approximately 14.11 million yen). However, the market's expected "Santa Rally" (a phenomenon in which prices tend to rise around Christmas)
There is a strong view that for the price to fully rise, it needs to break through the important resistance level of $92,000. The market is seeing that Bitcoin, which plummeted last month, has "bottomed out" and is in a recovery phase.
Analysis is increasing. In a report released on the 5th of this month (local time), Coinbase, a major US cryptocurrency exchange, pointed out that the cryptocurrency market entered a recovery phase in December.
"The market environment has improved, and liquidity has improved. In addition, the selling pressure from long-term holders (HODLers) has significantly decreased, easing the supply burden of Bitcoin."
"There is a possibility that funds favoring risk assets will return to the cryptocurrency market," he added. Research firm K33 also said, "The current Bitcoin price is close to the bottom, and December could be a turning point.
"There has been continuing selling pressure due to ETF outflows and shrinking futures trading, but going forward, the market is likely to structurally shift to an upward trend," he said.