Bitcoin lags year-end risk rally as U.S. stocks and precious metals notch record highs
Bitcoin hovered near $87,200 on Friday, about 6.5% below its 2025 opening level and well under its October peak above $126,000, even as U.S. equities and precious metals set fresh records. Derivatives positioning around a reported $28 billion options expiry and reduced holiday liquidity have coincided with roughly $500 million in weekly outflows from spot bitcoin ETFs and about $4.3 billion pulled over the final two months of the year. Gold climbed beyond $4,580 per troy ounce and silver surpassed $75, while the S&P 500 and Dow closed their Christmas Eve session at all-time highs and the Nasdaq gained more than 20% in 2025.