Bitcoin Slips Below $90k As Metaplanet Flags ‘Crucial’ Proposal

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The Bitcoin price edged down a fraction of a percent in the past 24 hours to trade at $89,634 as of 2:44 a.m. EST on trading volume that dropped 31% to $35.3 billion.

BTC dropped below $90,000 even as Japan-based Bitcoin treasury company Metaplanet took to X to reach out to wider stockholders about the Dec. 22 online extraordinary general meeting (EGM).

📢 12月22日開催のオンライン臨時株主総会の招集通知は案内済みです。

本議案は当社の将来にとって重要です。皆さまの声が必要です。

未行使の方は、速やかにQRコードによる事前の議決権行使をお願いします。

特典もご用意しています。

本投稿のリポストにもご協力ください。📢

— Metaplanet Inc. (@Metaplanet) December 15, 2025

The shareholder meeting will include a ”crucial” proposal regarding the future issuance of preferred shares, which is essential to the company’s mid- to long-term strategy, the company said.

Key agenda items will focus on the company’s strategic and governance matters, including Metaplanet’s BTC accumulation strategy.

The firm now holds 30,823 BTC, bought at an average cost of $108,036 per token.

Metaplanet CEO Simon Gerovich has called on shareholders to actively exercise their voting rights as the EGM brings forward essential proposals.

メタプラネットの株主の皆さまへ
来週12月22日（月）に開催される臨時株主総会に向けて、ぜひ議決権の行使をお願いいたします。

本総会では、今後の優先株式の発行に関する重要な議案が含まれており、当社の中長期戦略にとって非常に重要な内容となっています。… pic.twitter.com/1b7rY3noBo

— Simon Gerovich (@gerovich) December 15, 2025

Meanwhile, Michael Saylor has hinted that Strategy will buy more Bitcoin, posting “Back to More Orange Dots” on X.

₿ack to More Orange Dots. pic.twitter.com/rBi1aagDVO

— Michael Saylor (@saylor) December 14, 2025

BTC fell to a two-week low of around $87,500 on Sunday, with this quick wick down becoming a common trait over the last few weeks. Can the Bitcoin price recover?

Bitcoin Price Poised For A Breakout Despite The Sustained Drop

According to the BTC/USD analysis on the daily TradingView chart, the BTC price, after hitting the $126,230 all-time high (ATH) in October, has been in a sustained downtrend within a falling wedge pattern.

The downtrend was further fueled by supply areas around $115,000 and $107,000, and a death cross formed after the 200-day Simple Moving Average (SMA) ($108,488) crossed above the 50-day SMA ($96,031).

However, the bulls seem to be defending the $85,600 demand zone, which has allowed Bitcoin to trade in a sideways pattern above it, but capped by the $94,100 resistance area.

With BTC now trading at the apex of the wedge, a breakout is on the rise.

Meanwhile, the Relative Strength Index (RSI) appears to be recovering, climbing towards the 50-midline level, currently at 44, suggesting that buyers may be regaining some control over the last 24 hours.

Moreover, the Moving Average Convergence Divergence (MACD) supports the bullish sentiment, with the blue MACD line now consistently above the orange signal line, forming a bullish crossover.

Bitcoin Price Chart Analysis Source: TradingView — BTC/USD Chart Analysis Source: TradingView

BTC Price Prediction

Based on the BTC/USD chart analysis, the BTC price is poised to break out from the falling wedge pattern, with the RSI and MACD indicators supporting the positive momentum.

If the momentum picks up and bulls continue exerting pressure above the demand area, the Bitcoin price could surge further, first targeting the 50-day SMA, then aiming for the first resistance level at $107,500.

Conversely, if the bears take charge of the price and push it below the demand area, the next possible support is at the $80,000 level, with further support at the $75,000 level, last touched in April 2025.

According to Ali Martinez, a popular crypto analyst on X with over 164K followers, the SuperTrend indicator has turned bearish. The last time this happened, the price of BTC fell 60%.

-60%.

That’s how much Bitcoin $BTC fell the last time SuperTrend turned bearish. pic.twitter.com/HZQUC9imZp

— Ali (@alicharts) December 14, 2025

Traders are also bracing for the Bank of Japan (BoJ) to hike interest rates this week, which is driving renewed concerns about the potential impact on risk assets such as Bitcoin.