Bitcoin Faces Another Rejection at $90K as Gold Correlation Turns Negative

Bitcoin attempted to surpass the $90,000 level on December 22 but was met with resistance, once again falling back into the $88,000 range. This price movement indicates a shifting market sentiment, as its correlation with gold has turned negative, suggesting Bitcoin is being viewed more as a risky asset rather than a reliable hedge.

Key Takeaways

Bitcoin faced a rejection at the $90,000 mark on December 22, 2025, dropping to the $88,000 range.
The correlation between Bitcoin and gold has turned negative, indicating a change in market behavior.
Support is currently found in the $86K-$87K range, while a break above $90.5K is needed for bullish momentum.
The market shows inconsistencies between macroeconomic support and spot demand, leading to potential volatility.

Bitcoin rejected at $90K again as gold correlation turns negative

Bitcoin's Struggles at $90K

On December 22, Bitcoin fell back from the $90,000 milestone, showing once more that this level has consistently capped its upward movement during the month. Shortly after briefly approaching $90,500, sellers emerged, pushing the price down to around $88,000. This marks another instance of resistance at the $90,000 mark within the past two weeks, reinforcing its status as a significant barrier for bulls. Since early December, Bitcoin has continued to print lower highs, creating a tightening pattern that highlights a decrease in bullish confidence.

Negative Correlation with Gold: A Sign of Change

The gold correlation coefficient on the 12-hour chart has dipped to approximately -0.14, contrasting with the positive correlations observed in late November. A negative correlation indicates that Bitcoin and gold are now moving in opposite directions, departing from the trend seen in the fourth quarter, where Bitcoin often mirrored gold's safe-haven dynamics.

Bitcoin 12-hour price trend
Source: TradingView

This change typically arises when traders reallocate from safer assets to higher-risk markets, but it can also historically precede price volatility for Bitcoin. The decoupling from gold during price corrections often points to instability in the market until a clearer direction is identified.

Key Levels to Monitor in Bitcoin's Price Action

Currently, the $86K-$87K range serves as the nearest support zone for Bitcoin, having absorbed selling pressure multiple times in the past month. A drop below this level would expose further selling to the liquidity pocket around $83K. Conversely, bulls must secure a decisive break and close above $90.5K to invalidate the current trend of lower highs and regain upward momentum.

At present, the ongoing rejection at $90K, alongside a declining correlation with gold, reflects a market caught between diminishing macroeconomic support and cautious demand in the spot market. Until one of these critical levels is breached, Bitcoin is likely to remain range-bound, with an inclination toward increased volatility as this correlation evolves.

Final Thoughts

As Bitcoin continues to grapple with significant resistance and changing correlations, traders should remain vigilant and closely monitor these key levels for indications of potential future movements. With the market in a state of flux, understanding these dynamics is essential for navigating through the current landscape.