2025-12-26 13:10:33

In recent days, Bitcoin has been stuck oscillating between $88,000 and $89,000 amid liquidity shortages at the end of the year. Trading volume is low, and volatility is limited, but this also means that once funds enter the market, the moves to push prices up or down could be very sharp. Ethereum and other major cryptocurrencies are also moving sideways, with funds watching from the sidelines; no one wants to take the initiative to act.

The market's fear index remains in the extreme fear zone, a state that has persisted longer than during previous major crises. Simply put, investors currently lack confidence in risk assets in the short term and are adopting a conservative approach, waiting for clearer signals.

Interestingly, institutional traders have recently been transferring large positions of Bitcoin and Ethereum to exchanges, sparking speculation about potential selling pressure or safe-haven actions. At the same time, a large volume of crypto options are expiring at year-end, which could exert strong influence on prices. In the short term, it’s unlikely that prices will break out in a clear direction.

Looking at a longer time horizon, 2025 is widely regarded as a watershed year for the crypto industry. Continuous improvements in ETFs, clearer regulatory frameworks, and upgraded compliance on trading platforms indicate that the industry is gradually moving from wild growth to institutionalization and regulation. Key events such as policy adjustments at year-end, platform governance reforms, and inflows of institutional capital will have a substantial impact on the market’s long-term structure.

On the ecosystem level, mainstream exchanges are supporting upgrades and iterations of DeFi protocols, with some established protocols restructuring tokens and architectures in preparation for next year. Even during a sluggish market, the number of daily active users on public blockchains remains high, indicating genuine demand for usage. The market’s focus is shifting from pure price speculation to real use cases and on-chain revenue.

Additionally, the intersection of crypto mining with energy and geopolitical issues is worth noting. Bitcoin mining is now viewed as a strategically significant industry. These discussions are mainly long- to medium-term structural topics, with limited short-term impact on prices but significant long-term implications.

BTC-1,74%

ETH-1,83%

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NullWhisperer

· 16h ago

nah the 88-89k range is basically a pressure cooker at this point. institutions dumping onto exchanges though? that's the interesting edge case here—technically speaking could mean liquidation prep or just repositioning before year-end chaos hits

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PoolJumper

· 12-26 13:40

This wave is indeed waiting for a signal, but the institution transferring coins into the exchange is a bit intriguing. 88k card has been so long, it looks exhausting. Wait until next year, anyway, the fear index is off the charts right now and can't be changed. Are institutions really going to dump the market? Or are they up to some tricks? In the long term, it's definitely a watershed, but who can withstand such sideways movement in the short term?

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BackrowObserver

· 12-26 13:39

Getting stuck in the 88-89 range is really incredible, just like retail investors trapped and unable to move Institutions secretly transferring coins into exchanges, I can't tell if they're trying to dump or accumulate, anyway I don't dare to act The fear index hasn't recovered for so long, short-term there's really no opportunity, better wait for signals 2025 is really going to change, the institutionalization trend is coming, the wild growth mode of the past probably won't work anymore It's quite surprising that daily active users on public chains are still so high, indicating that retail investors are still quite active haha Bitcoin mining is now being discussed alongside geopolitical issues, this pattern is a bit big Liquidity crunch is like this, a big bullish or bearish candle can be smashed out, no one can predict it How options will be impacted when they expire, it seems like we have to look at the institutions' faces DeFi upgrades are preparations for next year, right now it feels like it's all about laying out the groundwork, price is secondary If this situation continues, I think we'll have to wait until 2025 to see the clear direction

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GasOptimizer

· 12-26 13:38

The 88k-89k range I analyzed through exchange data shows that the liquidity gap is indeed huge, with a single 5000BTC trade capable of consuming half a point. The movement of institutions transferring positions into exchanges is interesting, but don’t be fooled by appearances. You need to look at the transfer rate and wallet address history to determine whether it’s selling pressure or hedging—just looking at the numbers alone is useless. The fact that the fear index has been high for so long is actually a signal. Historical data shows that when such extreme conditions persist for more than 30 days, a reverse breakout usually occurs. The problem is, no one knows whether it will go up or down. In the long term, it’s definitely moving towards institutionalization, but in the short term, the appeal of this options expiration strategy... never mind, we still need to wait for clear actions from the Fed; otherwise, it’s just wasting money on interest rates.

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digital_archaeologist

· 12-26 13:28

88k slotting for so long, it feels like waiting for big funds to decide the fate The move by institutions to pour coins into exchanges is indeed a bit suspicious. Is it to dump the market or to test liquidity? If 2025 truly institutionalizes the system, then the era of wild growth will really be over, which is a bit nostalgic Options expiration is the most tricky; prices are often led around by this thing Public chain daily active users are still there, indicating that the retail investors haven't given up. I remain skeptical about the claim of genuine demand Bitcoin mining playing the geopolitical card? This idea has a bit of Cold War era flavor In the short term, the probability is just sideways movement, not much to look forward to

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0xSunnyDay

· 12-26 13:27

The 88,000-89,000 range repeatedly getting pushed, just waiting for a big fish to take the plunge voluntarily. Institutions are transferring coins to exchanges. I've seen this tactic before; they might really be about to dump. Saying 2025 is a watershed moment, but from how things look now, it seems more like preparation. Wait... massive options expirations? Isn't that the reason for the price being locked? Despite liquidity tightening, the daily active users on public chains remain strong, indicating that users really haven't left.

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zkProofInThePudding

· 12-26 13:27

88k card has been stuck for so long, it's really awkward. It feels like we're just waiting for institutions to decide our fate. Institutions are frantically shifting positions. I just want to ask, are they trying to dump or pump... The suspense is just too intense. Being in a sideways trend for so long has given me time to reflect on life. If 2025 can truly be institutionalized, then I might believe it. The high daily active users still indicate genuine demand, but in the short term, there's really no clear sign. The issues of mining and geopolitics seem to have been overlooked. Actually, these are the long-term big picture. After the fear index has been at an all-time high for so long, I surprisingly feel like it might be nearing the end? Or maybe it will just stay like this—who knows?

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