#比特币价格预测 After reviewing Wintermute's analysis, the 86K-92K range indeed aligns with the current on-chain signal characteristics. The year-end portfolio adjustments and tax considerations add to the short-term profit-taking pressure, which is also confirmed by the data on exchange fund inflows—whale wallet outflows have been quite evident over the past two weeks.

However, it is worth noting the large-scale options expiration in late December, which could serve as a catalyst for breaking through the range. The current oversold condition does exist, but more confirmation signals are needed to determine a bottom—it's recommended to closely monitor the fund movements on major exchanges and changes in on-chain contract holdings, as these will reflect the true market sentiment shifts earlier than technical indicators. A short-term sideways expectation is reasonable for allocation, but heavy long positions are not advised until clear fund inflow signals are observed.