Bitcoin Trades Just Below $90,000 Amid Holiday Market Lull
Bitcoin is trading in a narrow range just below $90,000, around $89,700, marking a decline of about 1.2% in the last 24 hours. Market liquidity is thinning and momentum is muted as participants are reluctant to take new directional bets ahead of the holiday period.
Since its October peak above $113,000, Bitcoin has experienced a sharp correction and taken on a more defensive stance during this low-liquidity phase. On-chain and derivatives data indicate declining participation, with Glassnode reporting that trading activity from November to December is weakening and implied volatility is expected to compress toward year-end.
Institutional fatigue is a contributing factor; despite early inflows into spot Bitcoin ETFs, funds have yet to drive sustained gains. There is a notable trend of de-risking and year-end book closings. Retail participation remains subdued, and a neutral stance on rates by the Federal Reserve has not renewed institutional interest.
Overall, the market remains broadly range-bound without clear catalysts, and deeper liquidity is unlikely until the New Year.
