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

According to Odaily Planet Daily, Wintermute trading strategist Jasper De Maere stated that Bitcoin is currently oversold in the short term, but the sideways movement is likely to continue, possibly oscillating between $86,000 and $92,000. He cautioned against over-interpreting technical indicators and anticipated further profit-taking over the next two weeks, primarily driven by year-end portfolio adjustments and tax factors. He expects Bitcoin's sideways movement to persist 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)