The Bitcoin price fell 2% over the past 24 hours, trading at $90,323 at 11:17 a.m. EST, while trading volume rose 12% to $54 billion.
This comes as John Ameriks, Vanguard’s global head of quantitative equities, called BTC a “digital Labubu,” referring to a hugely popular collectible cuddly toy.
“It’s hard for me to think of Bitcoin as anything other than a digital Labubu,” he said at a Bloomberg conference in New York on Thursday.
JUST IN: Vanguard Says Bitcoin Is Still a Speculative Digital ‘Toy’
Funny comment from a company that opened Bitcoin ETF access after screaming about it for two years. 😂 pic.twitter.com/1eFKtMXif4
— Simply Bitcoin (@SimplyBitcoin) December 12, 2025
Ameriks said Bitcoin does not generate income or cash flow, both qualities it considers essential for making long-term investments.
Vanguard had long been opposed to offering crypto products on its platform, but the $11 trillion asset manager made an about-face early this month by allowing its 50 million customers to start trading crypto ETFs (exchange-traded funds) that meet regulatory standards.
That includes ETFs that track Bitcoin, Ethereum, XRP and Solana, but excludes products based on more speculative meme coins like Dogecoin.
Head of brokerage and investments Andrew Kadjeski said at the time that crypto ETFs “have been tested through periods of market volatility, performing as designed while maintaining liquidity.”
Bitcoin price provides important support in the consolidation phase
After hitting a cycle high of nearly $126,230, the BTC price entered a sustained downtrend within the boundaries of a descending channel pattern.
The sell-off accelerated after Bitcoin lost the $108,000-$110,000 region where the 200-day Simple Moving Average (SMA) previously provided dynamic support. The SMAs also formed a deathcross around $110,577, which pushed the price of BTC even higher.
BTC eventually found demand near the $85,000-$90,000 zone, an area corresponding to the 0.618-0.786 Fibonacci retracement levels.
Following this move, Bitcoin staged a modest recovery, pushing back towards the $94,000 level, although upside momentum within the descending channel remains limited.
The latest candles indicate seller exhaustion as downside momentum slows and BTC begins to stabilize above the recent swing low.
However, at the current retracement, Bitcoin’s price remains below the 50-day SMA of $97,000, reinforcing the broader short-term bearish bias. The 200-day SMA, currently near $108,600, continues to act as a key overhead resistance.
Meanwhile, the Relative Strength Index (RSI) is showing signs of recovery, currently at 44, showing that the price of BTC is currently in equilibrium, and thus in a consolidation phase. .
The moving average convergence divergence (MACD) remains below the zero line. Still, the histogram has turned positive as the blue MACD line has crossed above the orange signal line, a sign that bearish momentum could be increasing.
BTC price prediction
According to BTC/USD chart analysis, BTC price appears to be consolidating after a deep corrective move, with technical indicators pointing to the potential for a near-term relief rally.
If BTC manages to break the descending channel resistance and reclaim the $100,000 zone, the next upside target could be the $106,000-$109,000 region, where the 0.382 Fibonacci level and the 200-day SMA meet.
On the other hand, if the current upswing fails and sellers regain control, Bitcoin could head towards the $85,000 support zone again, which now acts as a critical buffer against a deeper retracement towards the $74,000 level.
Related news:
Best Wallet – Diversify Your Crypto Portfolio
- Easy-to-use, feature-driven crypto wallet
- Get early access to upcoming token ICOs
- Multi-chain, multi-wallet, non-custodial
- Now in the App Store, Google Play
- Stake to earn native token $BEST
- 250,000+ monthly active users
#Bitcoin #Price #Drops #Vanguard #Exec #Calls #Digital #Labubu