After huge leveraged positions were liquidated, the market fell into a strange dilemma—everyone is asking, should we really start buying now?

Fast forward to December 29th, Bitcoin's price once again broke through the $90,000 mark. The entire crypto market is currently clustered around $89,300, forming a quite dense long and short liquidation zone. Even more interesting is that the market sentiment index shows that most people have shifted to the bearish camp.

This phenomenon feels somewhat familiar. Looking back at the market trends from July to October 2024 and from February to April 2025, whenever the market forms a certain consensus, it often signals a reversal—proving that the majority's judgment tends to turn out to be a losing bet.

**The key point is, $90,000 isn't driven by any major news**

Bitcoin's return above $90,000 this time wasn't triggered by any special catalyst. The driving force mainly comes from technical factors. Previously, $90,000 was a clear resistance level. Once Bitcoin stabilized above this threshold, bears were forced to cover, and the subsequent momentum buying pushed the price higher. Simply put, this looks more like a technical rebound rather than a fundamental change.

Analysts also point out that after a period of sideways consolidation, Bitcoin rebounded off its technical support level. The previous resistance has now turned into a new support, which is a very standard technical pattern.

**Market bearish consensus is often a contrarian indicator**

From the market sentiment index, the mainstream voices are currently leaning pessimistic. But this might actually mean something—when everyone is uniformly bearish, the market could be brewing something different. This pattern is quite common in crypto markets, and historical data has proven it several times.