Bitcoin stalls at $90,000 as demand weakens; Coinbase premium index at -0.08

Bitcoin's year-end rebound to $90,000 lost momentum on Dec. 29 amid soft demand and weaker on-chain activity, BlockBeats reports. Apparent demand turned negative at about -3,491 BTC, the lowest since October, while the Coinbase premium index fell to -0.08; analysts caution that longs should remain prudent until this gauge improves. Spot Bitcoin ETFs saw net outflows of about $782 million last week, and market participants note that a return to net inflows would be an important signal for the rally to restart. Bitcoin is holding the $84,000 support but has been rejected near $90,000 four times since mid-December; analysts say a sustained break above the $90,000–$92,000 range could revive upside momentum, some observe a potential hidden bullish divergence on the monthly chart, and they add that a monthly close above $90,300 would strengthen the bullish structure—with later targets, if the breakout materializes, even pointing toward $122,000.