$BTC is navigating a period of "Extreme Fear" and low holiday liquidity, currently trading around $87,000 as it struggles to recover from an October peak of ~$126,000.
The market is facing persistent downward pressure driven by significant spot ETF outflows—totaling over $140 million recently—and a cautious shift by major institutional players like MicroStrategy, which has paused its buying spree to build a cash reserve.
Technically, Bitcoin remains range-bound between immediate support at $85,000 and heavy resistance at $90,000, with traders bracing for increased volatility ahead of a massive options expiry on December 26.
Despite this short-term "Christmas lull" and the dominance of gold as a preferred safe haven this year, long-term sentiment for 2026 remains optimistic as long-term holders continue to accumulate during this corrective phase.
