The Bitcoin price stood at $88,970.24 on December 26 (10:20 a.m. IST), up 1.41 percent in a day and 2.26 percent in a week. In the morning session, the world's largest cryptocurrency fell as low as $86,897 and peaked at just above $89,188.
"BTC bounced 1.6% from $87K toward $89K. Today, around $28 billion in crypto options, including $23.7 billion in Bitcoin, are set to expire. Until then, prices may mostly move sideways in a volatile range as market makers hedge positions and pin BTC near key levels. Once the expiry is complete, this pressure might fade. A quick dip to trigger stop-losses is possible, but large expiries are often neutral-to-bullish. Currently, BTC has support at $87K and resistance at $89K," said CoinSwitch Markets Desk.
"Bitcoin is showing renewed strength, rising nearly 3% within a short span as broader market sentiment turns positive. The move suggests a delayed 'Santa Rally,' with buying interest returning across major assets. Sustained trading volumes from here could confirm a shift in trend. A clean break above $89,700 level would open the door for an extended rally toward the $100,000 mark. On the downside, $87,000 now serves as an important support zone, helping anchor the current move," said Akshat Siddhant, Lead Quant Analyst, Mudrex.
The volatility has been observed across other cryptocurrency tokens as well, with ETH up 1.63 percent, ADA down 1.95 percent, SOL up 0.13 percent, XRP up 1.33 percent, and Tether is down 0.01 percent in the past 24 hours.
"Bitcoin price rises above $89,000, Ethereum below $3000, XRP around $1.83, and Solana close to $121.5. Despite the sideways trend, the top gainers for the day include DoubleZero with over an 11.27% jump, followed by Maple Finance by 9.69% and Merlin Chain and pippin by over 5% each. Besides, Memecore plunges by over 8.44%, followed by Canton and ether.fi by over 4% each," said CoinDCX research team.
