Bitcoin hovered near $92,000 on Tuesday as analysts and traders pointed to improving technical and macro signals suggesting the cryptocurrency may have put its brutal fourth-quarter sell-off behind it.

The price action comes after months of volatility that saw bitcoin fall as much as 35% from its October peak above $126,000, amid forced liquidations and selling pressure from long-term holders. While the asset ended December down for a third consecutive month — a historically rare pattern — several analysts argue the setup now favors a rebound.

“We believe with reasonable confidence that Bitcoin and broader digital asset markets have bottomed,” Bernstein analyst Gautam…

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