Strategy raised $747.8 million in net proceeds by selling 4.535 million Class A common shares between Dec. 15 and 21, boosting its cash reserve to $2.19 billion while halting fresh Bitcoin purchases. The company holds 671,268 BTC acquired for $50.33 billion in total and is building a USD reserve to cover at least 12 months of preferred dividends and interest, with a long-term target of 24 months or more.

Bitcoin is trading close to $88,000 as it moves within a descending channel and approaches a critical technical region around the $88,400–$89,000 moving averages. At the same time, Coinbase is set to acquire prediction markets firm The Clearing Company, Metaplanet has approved dividend-paying Bitcoin-linked shares, and Ghana has legalized crypto trading under a new law, all reinforcing long-term adoption while traders watch for a break above $90,500 or a drop below $84,500.

On December 23, Trump Media & Technology Group, led by CEO Devin Nunes, purchased about 450 Bitcoin valued near $40.3 million, raising its holdings to 11,542 BTC worth roughly $1.04 billion. Following the acquisition, the company’s DJT stock fell close to 10%, while analysts highlighted both the strategic diversification into crypto and the regulatory uncertainty around such large treasury allocations. Bitcoin trades around $88,309.63 with a market cap of $1.76 trillion and a dominance near 58.96%.

In Q4 2025, on-chain metrics and market flows point to a Bitcoin demand gap, with US spot ETFs moving to net redemptions and aggregate holdings down by roughly 24,000 BTC. Analysts citing CryptoQuant and Alphractal describe a "bear season", while price analogs from Fidelity's Jurrien Timmer highlight support near $65,000–$75,000.

Bitcoin has been confined to a tight $87,500–$89,000 band after a dip toward $85,000 last week. According to analyst DrBullZeus, a decisive move above resistance just below $90,000 could open a run to $92,000, while a loss of $87,000 support may revisit $85,000. At press time, BTC trades at $89,690, up 1.1% in 24 hours.

According to on-chain data, Bitcoin wallets holding 10,000–100,000 BTC reduced balances by 36,500 BTC since the start of December. The coins moved or sold total roughly $3.37 billion as BTC traded in a choppy $85,000–$94,000 range. At the time of writing, Bitcoin was near $89,646.

According to a recent post on X by a crypto analyst, Bitcoin has consolidated in the $70,000–$90,000 range after a pullback, repeatedly holding key support within an ascending channel. He argues that price structure outweighs headlines and keeps a 96k target while noting a break of the channel or a sustained move above its upper bound would be decisive.

On December 22, 2025, analyst Ali Martinez shared a Bitcoin outlook indicating the price could slide to around $37,500 by the final quarter of 2026, marking a potential cycle low. His view is based on historical drawdowns of roughly 70% to 84% from prior peaks, implying the current rally toward $90,000 may give way to a deeper correction. He also argued that such a decline would likely set up a new accumulation phase rather than signal the end of Bitcoin's long-term uptrend.