Bitcoin News Today: Bitcoin Stalls at $90K as Holiday Liquidity Woes and Options Expiry Loom

Bitcoin Price Analysis: December 25, 2025

Bitcoin (BTC) is holding steady near $87,500 on Christmas Day, 2025, amid a mix of cautious sentiment and technical uncertainty. The market, however, has been shaken by a brief but dramatic "flash wick" on Binance, where BTC briefly fell to $24,111 before rebounding. The incident, though isolated, highlights the fragility of liquidity during the holiday season.

Meanwhile, Bitcoin remains 30% below its October all-time high of $126,000 and faces resistance at the $90,000 level. Analysts and traders are watching closely for signs of a breakout, especially with the looming December 26 options expiry expected to inject volatility into the market.

Historical patterns suggest that a "red Christmas Eve" could signal a strong rebound in the following year. In past instances where BTC ended the holiday season lower, the subsequent year averaged around a 100% gain. If the trend continues, 2026 could see BTC reaching $125,000–$200,000 depending on macroeconomic conditions.

Why the Standoff Happened

The recent flash wick on Binance's BTC/USD1 pair was a stark reminder of crypto's liquidity challenges during the holidays. With fewer traders and thinner order books, even minor price fluctuations can appear more volatile. The USD1 stablecoin, linked to a Trump family-backed firm, compounded the anomaly. While major exchanges remained unaffected, the event underscored the market's fragmented nature.

Bitcoin's inability to break above $90,000 has been attributed to a combination of factors. ETF outflows persist, and institutional activity appears to be cooling, with many observers citing the influence of derivatives expiries. Additionally, the absence of a strong bullish catalyst has kept the price in a consolidation phase.

How Markets Reacted

The broader cryptocurrency market reflects a cautious stance, with fear indices remaining elevated. Unlike equities and gold, which have surged during the holiday period, Bitcoin has failed to attract significant risk-on or safe-haven buying. This divergence raises questions about Bitcoin's positioning as a hybrid asset—neither fully a speculative play nor a hard asset like gold.

On the technical side, Bitcoin's price action is being closely monitored at key levels. The $90,000 mark remains a critical resistance, while support is expected around $85,000. Analysts suggest that a breakout could hinge on the removal of structural constraints, such as the expiry of large options contracts. If $90,000 is cleared, the path to $100,000 and beyond becomes more viable.

What Analysts Are Watching

Predictive models and expert opinions suggest a bullish case for Bitcoin in 2026. Tom Lee of Fundstrat has reiterated a $200,000 target for early 2026, while Grayscale and Bitwise see potential for an all-time high by mid-year. These forecasts assume continued institutional adoption, ETF inflows, and positive macroeconomic conditions.

However, the bear case warns of potential setbacks. ETF outflows, regulatory hurdles, or macroeconomic shifts could push BTC as low as $60,000. The market remains divided, with some analysts emphasizing the importance of price stability and others pointing to the structural demand from corporate buyers.

The next 72 hours are expected to be critical. Traders are watching for changes in ETF flows, the impact of the December 26 options expiry, and liquidity normalization post-holiday. A reversal in outflows or a sharp post-expiry move could provide clarity on BTC's near-term direction.