BTC was rejected again at $90,000.
The overall bearish sentiment in the cryptocurrency market came to a brief halt, as BTC, joined by most altcoins, exploded by several thousand dollars in a matter of minutes.
However, it was another fakeout, and the largest digital asset plummeted to its starting point just as quickly.
The graph above shows a clear picture. BTC was rejected earlier on Monday at $90,000 and fell below $85,500 in the following hours. It was below $88,000 for the next 48 hours, but took flight earlier today.
Within a few minutes, it rose by more than $3,000 to just over $90,000. However, the subsequent retracement was just as fast and BTC is back where it started.
Many altcoins followed suit, with immediate price increases and immediate declines. Naturally, according to CoinGlass data, this has caused about $300 million worth of destroyed positions, with almost a balance between longs and shorts ($140 million vs. $152 million).
The number of liquidated traders exceeds 100,000, while the largest wiped position was on Binance and was worth almost $4 million.
Popular crypto analyst CryptoJelleNL commented on BTC’s big move, claiming that this rejection could spell further trouble for the cryptocurrency and outlining a potential drop to and below $83,000.
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Another exact tag from the Monthly open – harshly rejected.
Lows of $83,000 don’t look too safe.
The main idea remains a disadvantage in the short term $BTC to pin the HTF divs, and then up for a while. ⌛️ pic.twitter.com/MqFAIZa9dX
— Jelle (@CryptoJelleNL) December 17, 2025
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