BTC (Bitcoin) briefly touched $90,501.93, currently at $88,446.26

Gate News Bot Message, December 26 — According to CoinMarketCap data, at the time of press, BTC (Bitcoin) is trading at $88,446.26, up 0.87% in the past 24 hours, with a high of $90,501.93 and a low of $86,411.80. The 24-hour trading volume reached $21.403 billion. The current market capitalization is approximately $1.77 trillion, an increase of $15.26 billion from yesterday.

Bitcoin is an innovative payment network and a new form of currency. Operated through peer-to-peer technology without relying on central authorities or banks, it is collectively managed by the network for transaction validation and Bitcoin issuance. Bitcoin is open-source, with its design publicly available; no one owns or controls Bitcoin, and everyone can participate. Bitcoin possesses multiple unique attributes, supporting fast peer-to-peer transactions, global payments, and low processing fees, enabling innovative use cases beyond the reach of traditional payment systems.

Important recent news about BTC:

1️⃣ Continuous Outflows from Institutions and Mechanical Selling Pressure

U.S. spot Bitcoin ETFs experienced significant fund outflows around the Christmas holiday. Over the past five trading days, net outflows totaled approximately $825 million, with $175 million leaving on December 24 alone, including a single-day net outflow of $91.4 million from BlackRock’s iBit and $24.6 million from Grayscale’s GBTC. This period’s capital outflow mainly reflects institutional investors’ risk-avoidance behavior ahead of the holidays, compounded by year-end tax-loss harvesting. Notably, this seasonal outflow pattern appeared last Christmas and New Year, indicating short-term selling pressure is phased, and may gradually ease after the holidays.

2️⃣ Long-term Holders Awakening and Profit-Taking Signals

Several dormant Bitcoin whales have recently become active, transferring large amounts to exchanges. One Bitcoin address inactive for 8 years transferred 400 BTC into an exchange, acquired at about $400,000, now with an unrealized profit of over $30 million. During the same period, since early December, Bitcoin whales have sold approximately 36,500 BTC, worth about $3.37 billion at current prices. This suggests long-term holders are engaging in structural profit-taking, especially after reaching a historical high near $126,200, with some funds choosing to realize gains in phases.

3️⃣ Precious Metals Pullback Driving Capital Rotation

Prices of precious metals like gold and silver have fallen sharply, triggering market capital flow from overheated assets to relatively undervalued ones. The correlation between Bitcoin and gold has strengthened significantly over the past year, as institutions increasingly view Bitcoin as “digital gold” for macro hedging. Their price movements are gradually aligning. When short-term overbought conditions in precious metals prompt profit-taking, some capital shifts into Bitcoin and Ethereum, which are relatively undervalued. This capital rotation has been validated multiple times in spot and derivatives markets, indicating Bitcoin may serve as a landing zone for funds after precious metals’ pullback.

4️⃣ Key Technical Support Levels Under Pressure

Bitcoin’s historical duration in the $70,000–$89,900 range is notably short—only 28 and 49 trading days respectively—far below nearly 200 days in the $30,000–$50,000 range. UTXO-based price distribution data shows that supply concentration in this range is insufficient, lacking a solid consolidation basis. Currently, Bitcoin fluctuates around $87,000. If a correction occurs, the $70,000–$80,000 zone may require more time to establish stable support. Additionally, the monthly RSI is at 56.5, just 2 points below the four-year average of 58.7. This level often marks the boundary between bullish and bearish phases. The RSI trend over the next 1–2 months will be critical in assessing the risk of a deep correction.

5️⃣ Macro Outlook and Derivative Pressures Coexist

Federal Reserve policy expectations and economic growth prospects exert dual influences on Bitcoin. Optimism about U.S. economic growth in 2026 and narratives around AI-driven efficiency gains provide medium- to long-term support for risk assets. However, approximately $23 billion worth of Bitcoin options on Deribit are approaching expiry, and combined with holiday trading thinness and narrowing implied volatility, investors tend to reduce risk exposure. The surge in Bitcoin-related mentions in SEC filings to record highs, along with traditional asset managers expanding crypto products and increasing institutional adoption, support Bitcoin’s fundamentals. Nonetheless, short-term derivative expiry events may trigger phased volatility.

This message is not investment advice. Please be aware of market risks when investing.