On Boxing Day, Bitcoin (BTC) aimed for the $90,000 mark as precious metals reached another peak.
Key highlights:
Bitcoin is poised for a retest of $90,000 as traditional financial markets reopen after the holiday.
Gold and silver swiftly achieved new all-time highs, maintaining their impressive bull run.
BTC price movements are attempting to break free from a downtrend that has persisted since October.
Bitcoin traders anticipate options expiry relief
Data from TradingView indicated that BTC/USD rose over 2% on Friday, with the Asian trading session supporting this upward trend.
As Wall Street opened, traders focused on a massive Bitcoin options expiry event totaling nearly $24 billion.
As reported by Cointelegraph, this was seen as an opportunity for market recalibration, setting the stage for potential price strength.
“With these contracts expiring, the hedging pressure that has been suppressing price begins to lift,” noted trader BitBull in a post on X.
“After that, price action truly reflects market positioning rather than derivative mechanics. This usually clarifies direction.”
BitBull remarked that the recent BTC price movements lacked an “organic” element due to the impact of options.
Crypto trader, analyst, and entrepreneur Michaël van de Poppe mentioned that he anticipates improved conditions for crypto in the post-New Year period.
“January is a time when asset managers start reallocating. If you analyze most charts, where would you invest?” he wrote on X.
“Definitely not in commodities, as they are overdue for a correction. Certainly not in tech stocks either, as they are climbing rapidly and the risk is quite high. But indices are still strong, and primarily, it’s Crypto and Bitcoin.”
Van de Poppe highlighted the ongoing strong performance of both gold and silver, which also reached new record highs that day.
Silver has surpassed Bitcoin by market cap, moving up to become the world’s third-largest asset, with gold in first place and Nvidia second, according to rankings from Infinite Market Cap.
BTC price analysis: Daily close “critical” for breakout
“Rangebound” continues to define short-term movements within the Bitcoin market.
Related: Bitcoin ETFs lose $825M in five days as the US becomes the ‘largest seller’ of BTC
Never short a boring market pic.twitter.com/8ToFRKZacL
— exitpump (@exitpumpBTC) December 26, 2025
With both long and short positions being challenging to assess, even movement towards $90,000 led to liquidations exceeding $200 million within 24 hours, according to data from CoinGlass.
“The daily close is crucial,” analytics account Crypto Ideology noted on that day, indicating that prices were attempting to break free from a two-month downtrend.
“A confirmed breakout facilitates movement towards $95k, where the real challenge lies. Acceptance above $95k is likely to initiate a rally towards the weekly MA50, close to the $100k range.”
At the time of writing, Bitcoin’s 50-day simple (SMA) and exponential (EMA) moving averages were at $91,458 and $92,651, respectively.
Van de Poppe characterized crypto as “significantly undervalued and mispriced,” anticipating a resurgence of liquidity and a confrontation with previous all-time highs “in the upcoming months.”
This article does not constitute investment advice or recommendations. Every investment and trading action carries inherent risks, and readers are encouraged to perform their own research before making decisions. While we aim to deliver precise and timely information, Cointelegraph cannot ensure the accuracy, completeness, or reliability of any content herein. This article may include forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be held liable for any loss or damage resulting from reliance on this information.
This article does not constitute investment advice or recommendations. Every investment and trading action carries inherent risks, and readers are encouraged to perform their own research before making decisions. While we aim to deliver precise and timely information, Cointelegraph cannot ensure the accuracy, completeness, or reliability of any content herein. This article may include forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be held liable for any loss or damage resulting from reliance on this information.
