Bitcoin (BTC) has had a muted Christmas, slipping below the key psychological level of $90,000 and cooling year-end optimism across the crypto market.
According to market analyst Ali Martinez, Bitcoin is consolidating around the mid-$88,000 range, signaling rising market indecision. This sideways price action points to a clear “wait-and-see” phase, where neither bulls nor bears have gained decisive control, leaving the next major move unresolved.
Well, the $90,000 level has long served as a key psychological threshold for Bitcoin, and slipping below it has dampened short-term sentiment, especially among retail traders who often view such levels as signals of market strength. However, consolidation beneath resistance is not inherently bearish.
Historically, Bitcoin has often paused to build liquidity and momentum after major moves, particularly during periods of macroeconomic uncertainty and shifting investor expectations. At its current price of $87,423, according to CoinGecko, this sideways action may reflect stabilization rather than weakness.
Bitcoin on Track for Weakest Q4 in 7 Years as Price Slides 22%
According to on-chain market analyst Coin Bureau, Bitcoin is on track for its weakest fourth-quarter performance in seven years, challenging the long-held belief that Q4 is typically Bitcoin’s strongest period and fueling renewed investor concern.
Per Coinglass data, Bitcoin is down 22.54% on a monthly basis this quarter, an unusual break from its historically strong year-end performance. The last time Q4 showed similar weakness was in 2018, when Bitcoin plunged 42.16% amid the depths of the post-bull-market crash.
Notably, Coin Bureau highlights that Bitcoin’s weakness stems from macro uncertainty, reduced risk appetite, and subdued speculation, as rising global interest rates, tighter liquidity, and persistent inflation continue to pressure risk assets, including cryptocurrencies, this year.
Meanwhile, spot Bitcoin ETFs saw $188.6 million in outflows on December 23, marking a fourth consecutive day of withdrawals as institutional investors reduce exposure ahead of the Christmas holiday, according to SoSoValue.
Source: https://zycrypto.com/christmas-comes-cold-for-bitcoin-as-price-stays-under-90000/
