Bitcoin traded at $92,690 on Wednesday, rising over 7% in 24 hours after Monday's sharp decline. Bank of America announced Tuesday it will recommend 1%-4% digital asset allocations for wealth management clients starting January 5, covering four bitcoin ETFs including BlackRock's IBIT and Fidelity's FBTC. The move follows similar recommendations from Morgan Stanley and other major institutions.

Bitcoin faces rejection between $91,000 and $93,000 after bouncing from $80,000–$83,000 support. Data show heavy supply near $96,000–$97,000, where short-term and medium-term holder cost bases converge. Technical indicators point to a sell bias unless BTC breaks above the declining trendline and clears $97,000.

Robinhood Markets reported third-quarter 2025 revenue of $1.27 billion, up 100% year-over-year, with net income of $556 million. Cryptocurrency revenue surged 339% to $268 million, representing approximately 20% of total revenue. Diluted earnings per share hit $0.61, exceeding the Wall Street consensus estimate of $0.51 per share.

Bitcoin long-term holders have sold approximately 400,000 BTC over the past 30 days, according to onchain data. The Long-Term Holder Net Position Change metric has turned increasingly negative, signaling accelerated distribution. Technical indicators have shifted from buy to neutral for the weekly outlook, with long-term moving averages now showing sell signals.