Wintermute analyst: Bitcoin is oversold in the short term, but the sideways trend may continue in the near term.

Wintermute trading strategist Jasper De Maere stated that Bitcoin is short-term oversold, but the sideways movement is likely to continue, currently fluctuating between $86,000 and $92,000. It's not advisable to overinterpret technical indicators at this time, and more profit-taking is expected in the next two weeks, primarily driven by year-end portfolio adjustments and tax factors. He anticipates Bitcoin's sideways movement will continue until a new catalyst emerges, one of which could be the large-scale options expiration in late December. While it's too early to declare a market bottom, signs of a bottom are beginning to appear. (CoinDesk)