Bitcoin Holds Near $87K as Asian Rally Pauses, Tech Stocks Weaken
Bitcoin traded near $87,000 as Asian equity gains cooled and US tech stocks slipped into year-end. BTC: ~$87,164 (-~1.9%), ETH: ~$2,929 (-~2.3%), XRP: ~$1.85 (-~2.2%). Total crypto market cap around $3.03 trillion, down ~2.1%. Nansen analyst Jake Kennis said year-end seasonality has reduced volumes and led to sideways price action for Bitcoin and Ethereum, citing lower on-chain activity, fewer transactions and reduced DEX volumes (Base noted). Solana remains the largest venue for on-chain trading by volume, with BNB Chain second. Macro drivers include awaiting the Fed’s December minutes, while metals (silver, gold) saw profit-taking after fresh highs. Traders view Bitcoin’s steadiness as a positioning pause rather than decisive directional conviction, watching liquidity, flows and volatility pricing into early 2026.
Neutral
The report describes muted trading and sideways price action driven by year‑end seasonality and thin liquidity rather than a shock event or directional catalyst. Key indicators—lower volumes, reduced on‑chain activity, and modest declines in major assets—point to consolidation. Macro risk (Fed minutes) and profit‑taking in metals add short‑term uncertainty, but there is no clear selloff or large accumulation signal. Historically, year‑end volume dry-ups have produced short, low‑volatility ranges that resolve once liquidity returns (often after key macro releases or in early trading windows). For traders: expect limited directional momentum in the short term; use narrower risk parameters, watch liquidity and order‑book depth, and monitor flows and volatility pricing around the Fed minutes and the turn of the year. Longer term, fundamentals discussed (broad on‑chain slowdown, Solana’s trading share) do not change structural narratives—recovery of volumes or macro shocks will determine the next trending move.