Bitcoin recorded sharp buying pressure on December 17th, causing rapid capital inflows and the flagship cryptocurrency briefly surpassing the $90,000 level.
In a roughly 30-minute time frame, BTC rose from around $87,000 to a trading high of just above $90,000, before stabilizing around $89,950 at press time, marking one of the fastest short-term price increases in recent weeks.
data from coin market cap According to , Bitcoin’s market capitalization surged from about $1.745 trillion to about $1.8 trillion during the rise, with an inflow of about $55 billion in market capitalization in a short period of time.
Bitcoin price analysis
At the time of this writing, Bitcoin is trading at $89,948, up just over 3.1% in the past 24 hours. Trading volumes continued to rise during the surge, with 24-hour trading volumes ranging from $34.6 billion to $37.5 billion amid heightened volatility.
This rapid rally followed a period of consolidation early in the session, with Bitcoin trading sideways before aggressive buying emerged. Notably, this breakout briefly pushed the asset above the psychologically important threshold of $90,000 before modest profit-taking began.
Despite the pullback from intraday highs, Bitcoin held on to most of its gains, suggesting buyers are willing to absorb selling pressure at higher levels. The move also pushed Bitcoin’s fully diluted valuation to nearly $1.88 trillion, while the circulating supply remained stable at just under 20 million BTC.
Traders should note that short-term spikes in market capitalization often reflect concentrated purchases from large participants rather than gradual retail inflows. Although the exact cause of the buying pressure remains unclear, the speed of the movement suggests that demand is flowing into the market in a narrow time frame.
