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Bitcoin struggles to maintain the $90K as open interest in futures declines
Source: Yellow Original Title: Bitcoin struggles to hold $90K while open interest in futures declines
Original Link: https://yellow.com/es/news/bitcoin-lucha-por-mantener-los-90k-mientras-cae-el-interfutures-open-interest Bitcoin (BTC) struggled to stay above $90,000 on Friday as institutional money continued to exit spot ETF funds.
US spot Bitcoin ETFs experienced outflows of (million over five trading days ending December 24.
Selling pressure came as traders attributed the withdrawals to year-end tax-loss harvesting strategies and a major options expiry.
What happened
Open interest in Bitcoin futures across major exchanges fell to its lowest in eight months.
The decline followed a period of heavy liquidations after Bitcoin failed to sustain gains above $89,000.
BlackRock’s IBIT led ETF outflows with $91.37 million on December 24 alone.
The five-day exodus accounts for less than 1% of the combined )billion in total ETF assets.
Gold and silver hit new all-time highs on Friday.
Spot gold rose 1.6% to surpass a maximum of $4,540 per ounce, while silver advanced 7.6% to go over $77.
The rally in precious metals occurred as investors sought protection amid growing concerns over US debt.
Demand for government-backed debt increased, pushing US 10-year Treasury yields to a three-week low of 4.12%.
The administration announced on Tuesday tariffs on semiconductor imports, postponed until June 2027.
Why it matters
The monthly Bitcoin futures premium held steady at 5% on Friday, unchanged from the previous week.
The base rate has moved away from the sub-4% levels seen on December 18, when Bitcoin traded below $85,000.
Options pricing for Bitcoin suggests sentiment is stabilizing despite ETF outflows.
The skew delta, which measures the price relationship between puts and calls, remained near neutral levels.
Even with concerns about a softer economic activity, Bitcoin continues to behave as a high-risk asset while precious metals have rallied.
The decline in open interest in futures and net outflows of around 1% from Bitcoin ETFs do not indicate a sustained bear market, especially as options metrics and the base rate remain healthy.
A new test of the $85,000 support level remains possible.
Bullish traders seem to be gradually regaining confidence, even if Bitcoin fails to break above $90,000 in the short term.