$BTC Bitcoin is closing the year right at the doorstep of $90,000 — but the door remains shut.
On December 31, BTC traded inside a tight $86,500–$90,000 range, with spot prices hovering around $88,700. Multiple breakout attempts failed, and each rejection made one thing clear: the market isn’t ready to commit yet.
The latest push toward $90K wasn’t driven by fresh buyers. It came from short covering, a temporary fuel that lifts price quickly but fades just as fast when real demand is missing.
Holiday Liquidity: When the Market Goes Quiet
Year-end trading always brings thinner liquidity, and Bitcoin is no exception.
Spot trading volume has dropped to around $34 billion
Earlier in the cycle, volumes regularly exceeded $70 billion
Thin order books mean small trades can cause outsized moves
Since the October liquidation shock, the derivatives market has cooled:
Funding rates remain muted
Open interest is subdued
December has favored range-bound trading over trends
Bitcoin isn’t trending — it’s waiting.
ETF Flows Reveal Market Hesitation
ETF flows mirror this uncertainty.
Digital asset funds saw $446 million in outflows in the final week of December
Bitcoin products accounted for $443 million of that total
Post-October, cumulative ETF outflows have reached $3.2 billion
December 31 offered a brief shift in tone:
$355 million in net inflows
BlackRock’s IBIT and ARKB led the rebound
Still, one strong day of inflows wasn’t enough to break the $90,000 ceiling.
$90,000 Is Not Just Resistance — It’s a Decision Zone
This level is more than a technical barrier.
Above $90K: confidence, momentum, renewed risk appetite
Below $90K: patience, hesitation, consolidation
Until volume returns, ETF flows stabilize, and leveraged interest rebuilds, Bitcoin is likely to remain trapped in this range.
Final Thought
Bitcoin made noise throughout the year — but it’s ending it in silence.
And in crypto markets,
silence often comes right before the loudest move.
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