Bitcoin has indeed pulled back after briefly reclaiming the $90,000 level earlier this week. As of today, December 23, 2025, the price is hovering between $87,000 and $88,500.
This "rejection" at 90k has been a recurring theme throughout December, as the market struggles to find a clear direction following the massive volatility seen earlier in the year.
Why did it drop?
Several factors are currently pinning the price down:
Anticipation of Key U.S. Data: Traders are turning risk-averse ahead of major U.S. economic readings expected this week, which could influence interest rate expectations for early 2026.
The "Holiday Lull": Trading volumes are thinning out as the year-end holidays approach. In low-liquidity environments, even moderate sell orders can cause sharper price swings.
Massive Options Expiry: A record $28 billion in Bitcoin and Ethereum options is set to expire on December 26. Large-scale expirations often keep prices "pinned" to certain levels as market makers hedge their positions.
