Bitcoin (BTC) was trading around $86,770 at 10:33 GMT on Wednesday, December 24, 2025, extending a muted, range-bound stretch that has dominated much of December after repeated failures to reclaim the psychologically important $90,000 level. [1]
While the headlines may feel quiet on Christmas Eve, the drivers behind Bitcoin’s “stuck” price are anything but simple: persistent spot Bitcoin ETF outflows, thinner year-end liquidity, and a large late-December options expiry that analysts say is discouraging conviction bets in either direction. [2]
Bitcoin price at 10:33 GMT and the day’s tone
At 10:33 GMT, FXStreet’s market update put Bitcoin “around $86,770,” noting that BTC remained below $87,000 after failing to break meaningfully above $90,000 earlier in the week. [3]
A separate Investing.com update shortly afterward described Bitcoin ticking lower toward $87,000, and reported BTC last trading at $87,113 by 11:00 GMT, underscoring how tightly the market has been moving intraday. [4]
Even broader market roundups in traditional finance press framed Bitcoin as subdued: Barron’s morning market coverage referenced Bitcoin down roughly 0.44% to about $87,256 during premarket context, aligning with the same “mid-$87K” theme seen across crypto price feeds. [5]
Why Bitcoin is struggling: ETFs flip from tailwind to headwind
One of the most consistent storylines across today’s analysis is the loss of institutional bid that powered earlier rallies.
FXStreet highlighted that U.S.-listed spot Bitcoin ETFs recorded an outflow of $188.64 million on Tuesday, marking a fourth consecutive day of withdrawals (counting from Dec. 18). [6]
Investing.com pointed to a wider lens, citing SoSoValue-based figures that showed nearly $500 million in net outflows last week, a meaningful reversal from the “ETF boom” narrative that dominated much of 2024–2025. [7]
And in a broader 2025 wrap published today, Reuters noted just how quickly ETF sentiment can turn: it described spot crypto ETFs as a rally accelerant early in the year—but also as a “fast exit route” when risk appetite cools, citing an example of significant outflows from a major U.S. spot Bitcoin ETF during the year. [8]
What this means for price today: in thin holiday markets, even “ordinary” ETF withdrawals can matter more than usual—because there are fewer active traders willing to absorb selling pressure and push BTC back above resistance.
Holiday liquidity: a small market feels even smaller
Christmas Eve trading is often quieter across asset classes, but Bitcoin’s 24/7 market can still “feel” like it’s operating on holiday hours when large funds and market makers reduce risk.
Investing.com explicitly blamed “thin year-end trading conditions” for the lack of follow-through after Bitcoin’s repeated rejection near $90,000. [9]
A Bloomberg News column syndicated by Advisor Perspectives used even sharper language: Bitcoin was described as pinned in a $85,000 to $90,000 zone with thin trading volumes and fading retail speculation, even as U.S. stocks pushed into a classic Santa rally and gold printed fresh records. [10]
The “freeze” factor: a $23B+ options expiry looming over Bitcoin
Another major catalyst that keeps appearing in Dec. 24 commentary is late-December options expiry.
The Bloomberg News piece carried by Advisor Perspectives said a more than $23 billion options expiry later this week is “freezing directional bets,” reinforcing the stalemate. [11]
FXStreet, while more focused on spot price action and ETF flows, reinforced the sense that the market lacks a strong catalyst to break the range—especially with sentiment leaning cautious and momentum indicators still soft. [12]
Why options matter right now: large options expiries can change hedging flows and short-term market structure. When traders and dealers are heavily positioned, it can create a “gravity well” around key strikes—often the same round-number levels traders watch anyway (like $85K, $90K, and $100K).
On-chain and “whale” signals: participation looks thinner
Beyond flows and derivatives, today’s updates also pointed to a softer participation backdrop among larger holders.
FXStreet cited Santiment data showing that the number of wallets holding at least 1 BTC declined 2.2% (from 999,320 on March 3 to 974,380 on Monday), describing it as a sign of reduced large-holder participation. [13]
This doesn’t automatically mean whales are “dumping” (wallet counts can shift for many reasons), but it does fit the broader theme repeated across outlets today: fewer aggressive buyers are stepping in, and rallies are struggling to sustain.
Macro markets are cheering—but Bitcoin isn’t joining the party
One of the most striking themes in today’s coverage is the divergence between Bitcoin and other “risk” or “hard asset” trades.
Investing.com reported:
- U.S. equities surged, with the S&P 500 rising to a record closing high;
- U.S. GDP growth was described as 4.3% annualized in Q3; and
- gold and silver climbed to record peaks as investors priced in easier monetary policy and sought geopolitical hedges. [14]
Meanwhile, the Bloomberg/Advisor Perspectives piece emphasized that gold climbed near $4,500 an ounce and was up more than 70% in 2025, while Bitcoin failed to attract similar defensive flows—despite the “digital gold” narrative that often resurfaces during macro uncertainty. [15]
This matters for SEO readers searching “why is Bitcoin down today?” because the answer isn’t a single headline. It’s the combination of:
- weaker ETF demand,
- holiday liquidity,
- options positioning, and
- a market that—at least right now—seems to be rewarding either traditional risk (stocks) or traditional safety (gold) more than crypto. [16]
Where Bitcoin stands in 2025: from $126K highs to mid-$80Ks reality
Any “Bitcoin price today” article on December 24 inevitably carries a year-end scoreboard element.
Reuters’ year-in-review legal analysis recapped the core arc: Bitcoin surged to about $126,000 in October 2025 before sliding back toward the mid-$80,000s in late November/early December, reinforcing how quickly momentum can reverse. [17]
Investopedia echoed that framing: Bitcoin set a record above $126,000 this year, but those gains faded, leaving the asset poised to finish the year down despite major policy wins and continued institutional buildout. [18]
Bitcoin forecast and key levels to watch after 10:33 GMT
Today’s forecasts are less about bold “new all-time highs next week” calls and more about market structure: what breaks first—support or resistance—and what might force a volatility regime change.
FXStreet laid out a clear technical map:
- If BTC’s correction continues, it could drop toward support near $85,569.
- If BTC closes back above $90,000, the next resistance highlighted was around $94,253.
- Momentum indicators were described as bearish-leaning (e.g., RSI below the neutral 50 level). [19]
Investing.com’s analysis also emphasized $85K as a psychologically important zone, warning that a break below it during low-liquidity holiday trading could accelerate selling pressure. [20]
In practical terms: the near-term Bitcoin price forecast for late Dec. 24 into the Boxing Day/late-December window is largely a question of whether BTC can:
- reclaim $90,000 with real volume, or
- lose the mid-$85,000s and trigger defensive selling.
Longer-range outlook: bullish institutions vs. gloomy retail
If today’s short-term tape looks uninspiring, longer-term forecasts in Dec. 24 coverage remain strikingly ambitious.
Investopedia quoted Bitwise CIO Matt Hougan saying retail mood is “extraordinarily negative,” while institutional investors are “unremittingly bullish,” capturing the split personality in crypto markets heading into 2026. [21]
The same report highlighted the “debasement hedge” narrative returning in 2026: Amberdata’s Greg Magadini expects interest in Bitcoin as a debasement hedge to pick up next year, particularly if debt and currency concerns reassert themselves. [22]
For long-term targets, Investopedia pointed to:
- Standard Chartered projecting Bitcoin could reach $500,000 by 2030, and
- Galaxy Digital forecasting $250,000 by the end of 2027, while still calling the nearer-term path “too chaotic to predict.” [23]
The under-discussed 2026 risk: litigation and compliance pressure
Not all Dec. 24 analysis is about charts and flows. Reuters’ Westlaw Today/Reuters Legal News commentary argued that 2025’s volatility is increasingly intersecting with legal and regulatory risk, with a shift toward private litigation as a market discipline mechanism when enforcement ebbs. [24]
Reuters also highlighted the role of regulation abroad—especially Europe’s MiCA framework and transitional compliance timelines—suggesting the next phase of crypto’s maturation will be shaped not just by price cycles, but by how firms handle disclosure, governance, marketing practices, and investor lawsuits. [25]
For investors, this matters because legal risk can influence:
- which platforms attract institutional volume,
- how products like ETFs are marketed and distributed, and
- what kinds of “crypto headline shocks” show up in 2026.
What to watch next after today’s 10:33 GMT snapshot
If you’re tracking Bitcoin price action into the final week of the year, today’s coverage points to a handful of catalysts that can quickly shift the tone:
- Spot Bitcoin ETF flows: another streak of outflows could keep BTC heavy below resistance; stabilization could help BTC challenge $90K again. [26]
- Late-December options expiry: traders are watching whether a large expiry unlocks volatility—or keeps BTC stuck in the same range. [27]
- Liquidity conditions: holiday-thinned markets can exaggerate moves (up or down) as fewer participants set price. [28]
- Key technical levels: $85.6K-ish support vs. $90K resistance (and $94K+ if a breakout sticks). [29]
- Macro cross-currents: equities strength, gold’s record run, and expectations for 2026 Fed cuts continue to set the broader “risk appetite” backdrop—even if Bitcoin isn’t responding like it used to. [30]
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile, and prices can change rapidly across venues.
References
1. www.fxstreet.com, 2. www.fxstreet.com, 3. www.fxstreet.com, 4. www.investing.com, 5. www.barrons.com, 6. www.fxstreet.com, 7. www.investing.com, 8. www.reuters.com, 9. www.investing.com, 10. www.advisorperspectives.com, 11. www.advisorperspectives.com, 12. www.fxstreet.com, 13. www.fxstreet.com, 14. www.investing.com, 15. www.advisorperspectives.com, 16. www.advisorperspectives.com, 17. www.reuters.com, 18. www.investopedia.com, 19. www.fxstreet.com, 20. www.investing.com, 21. www.investopedia.com, 22. www.investopedia.com, 23. www.investopedia.com, 24. www.reuters.com, 25. www.reuters.com, 26. www.fxstreet.com, 27. www.advisorperspectives.com, 28. www.investing.com, 29. www.fxstreet.com, 30. www.investing.com
