Bitcoin futures open interest on major exchanges dropped to $42 billion, the lowest level in eight months, while BTC again failed to hold above $89,000. Despite roughly $825 million in net outflows from spot Bitcoin ETFs and stronger demand for safe haven assets like gold and silver, futures basis and options skew indicate only limited downside risk for BTC around the $85,000 support area.

At the upcoming year-end expiry, $30.3 billion in Bitcoin options open interest will be settled off BTC's 8:00 am UTC price, with bearish positioning still dominant below $94,000. Most of the $21.7 billion in call options sit at strike prices above $89,000 to $94,000, while over half of the $7.7 billion in puts would expire worthless if Bitcoin trades above $88,000.

Ether has traded below $3,400 for around 40 days as a $6 billion ETH options expiry on Dec. 26 approaches, with call positions outnumbering puts by 2.2 times. Bears retain an edge unless price breaks $3,100, while key payoff zones span $2,700–$3,300 depending on where ETH settles at Friday's 8:00 am UTC mark.

Bitcoin hovered around $90,000 and repeatedly failed to hold above $92,000 over the past month amid softer US labor data and cooling growth. On Dec. 9 Target trimmed its fourth quarter outlook; on Dec. 10 Macy's warned inflation would squeeze margins; on Dec. 18 Nike posted lower quarterly sales. The chance of a Jan. 28 rate cut fell to 22% and the 10-year Treasury yield stood at 4.15%.

Solana’s SOL token has dropped 32% since November, while the wider altcoin market fell 21%, as network fees and DApp revenues declined alongside slowing onchain activity. Despite $636 million in U.S. Solana ETF assets, 20.35 million SOL on corporate balance sheets and roughly 68% of supply staked, growth has shifted to Base, Arbitrum, Polygon and BNB Chain, limiting SOL’s near-term upside. Analysts highlight that without a clear rebound in Solana’s usage metrics, the token may continue to lag competing ecosystems and the broader market.

Bitcoin held above $85,000 after a recent sell-off, while spot Bitcoin ETFs recorded $358 million in net outflows and the price sits 31% under the $126,219 all-time high. Despite the breach of the $90,000 level and short-term ETF weakness, correlation and volatility metrics, along with institutional positioning via ETFs and corporate reserves, suggest large investors have not definitively abandoned expectations for a move toward $100,000.

On Monday, crypto markets fell as Bitcoin retested $85,000 and Ether touched $2,900, while leveraged longs saw $527M liquidated in 24 hours. Traders shifted risk after surveys and Fed chair speculation changed macro expectations, and AI-related debt concerns added pressure.

SOL has failed to hold above $145 for four weeks as Solana’s TVL fell by more than $10 billion from its September peak. Following the Oct. 10 market shock, memecoin trading cooled and DEX volumes retreated, while perpetual futures funding shows muted long demand at a 6% annualized rate.