Trading

On December 23, 2025, Bitcoin traded below $90,000 into the U.S. session and was down about 1% on the day. Traders flagged resistance at the 4H 200-period SMA/EMA and a whale opened $166,822,000 in BTC shorts alongside $54,856,000 in ETH and $18,790,000 in SOL. At the same time, gold approached $4,500 per ounce and bullish divergences appeared on Bitcoin's three-day and BTC/XAU charts.

Around $23.6 billion in Bitcoin options are scheduled to expire on Friday, December 26, representing the largest BTC options expiry to date. CoinGlass data as of December 23 shows heavy call positioning between $100,000 and $120,000 and notable put interest near $85,000, with max pain around $96,000. Bitcoin trades near $87,800 and could see heightened volatility as contracts lapse during a typically low-liquidity holiday week.

VanEck's mid-December on-chain study indicates long-term Bitcoin holders are transferring coins to newer participants. On Dec. 23, Daan Crypto Trades noted BTC traded near $87,545 while its 4H 200 EMA was around $91,102 and the 4H 200 MA near $89,201, keeping price below both gauges.

In December 2025, gold and silver extended gains while Bitcoin traded sideways, underscoring a split between haven demand and risk exposure. On-chain and activity metrics indicate softer participation, and Bitcoin is tracking its weakest fourth quarter since 2018, down nearly 22%, with prices near the 85,000–90,000 dollar range and fair value estimates around 88,000 dollars.

Gold climbed to an all-time high at $4,486 per ounce as traders priced in further interest-rate cuts, a move analysts say reinforced demand for safe-haven assets. The surge raises questions for Bitcoin: some flows may rotate into gold short term, while similar macro forces could still underpin Bitcoin's longer-run appeal as 'digital gold'.

According to CyrilXBT in an X post this Monday, Bitcoin is nearing a key inflection, with $84,000–$88,000 acting as short‑term support and $100,000 marked as the decisive level. The analyst expects a gradual move toward $92,000–$95,000 if support holds, while a break below $84,000 could expose $76,000–$72,000; BTC was last above $87,000.

On Tuesday, veteran trader Peter Brandt revisited Bitcoin's history of at least 80% pullbacks after parabolic advances, while also projecting the next bull market peak for the asset in September 2029. XRP has reclaimed turnover leadership over Cardano's Midnight (NIGHT) after posting higher daily trading volume, and Shiba Inu (SHIB) is edging toward its so-called Black Friday support zone at $0.00000678. Across the market, Bitcoin trades in the mid-$80,000 range as traders watch defined upside and downside targets for BTC, XRP, NIGHT and SHIB.

On December 23 2025, Santiment reported that XRP's social media sentiment fell to one of its most negative readings in two months as the token traded more than 30% below recent highs. The article adds that a similar fear spike on November 21 was followed by a roughly 22% three-day rebound, while price recently slipped under $1.93.

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As 2025 nears its end, Bitcoin is trading below a long-standing bull market channel after six weeks of failed attempts to reclaim it and is now consolidating under key resistance. Analysts are split between scenarios that include a possible move down toward $60,000 or a renewed push toward the $100,000–$105,000 area, while spot price hovers near $87,100 amid a weak fourth quarter.