Coin Bureau highlighted Bitcoin's realized price near $56,000 as a bear-case threshold. Benjamin Cowen noted cycle durations of 1,067, 1,059, and 1,062 days, while a Binance liquidation heatmap showed heavy liquidity in the low $100,000s and near $110,000, plus a lower cluster in the low to mid $70,000s. A TradingView weekly BTCUSDT chart indicated $88,122 on OKX on Dec. 21, 2025, implying roughly a 55% drop toward $56,240.

Bitcoin is trading around $88,750 after a recent pullback, hovering just below a key resistance area and maintaining a consolidating structure. Technical levels between roughly $84,500 and $94,200 are in focus as traders assess whether the current pause precedes a continuation higher or a deeper correction. Macro factors such as disinflation, shifting US rate expectations, and ongoing spot ETF inflows are helping to underpin sentiment while volatility contracts.

On 19 December 2025, Metaplanet Inc., a Japanese Bitcoin treasury-focused company, began trading its new sponsored ADRs on the US OTC market under the ticker MPJPY. The Level I program, with Deutsche Bank Trust Company Americas as depositary and a 1:1 ADS-to-share structure, replaces prior unsponsored trading under MTPLF without changing total shares. The company says this setup aims to cut transaction costs, standardise US dollar settlement and broaden access for US investors seeking Bitcoin treasury exposure.

Zcash founder Zooko Wilcox recently said he is bearish on Bitcoin because he believes its community culture has become closed to innovation and hostile to developers. He argued that even a strong technical design cannot survive if the surrounding culture rejects change, contrasting this with his goal of keeping Zcash highly open to evolution. His comments followed a dispute between Aleo CEO Alex Pruden and Bitcoin maximalist "Coinjoined Chris" over post-quantum security tools for Bitcoin.

Bitcoin is trading in a consolidation range beneath a descending trendline, with price capped under the $95K supply zone and supported around $80K. On lower timeframes, $85K and $90K have emerged as important short‑term levels, while a notable liquidation cluster above $90K points to potential absorption rather than a clean breakout. Until these technical and liquidity zones are convincingly broken, the market structure leans neutral to slightly bearish.

On Friday, Santiment founder Maksim Balashevich said in a YouTube video that Bitcoin could slide toward $75,000, arguing social media sentiment is still overly confident for a lasting bottom. BTC traded near $88,000 at the time, according to CoinMarketCap, implying roughly a 15% downside, while Japan's 0.75% rate hike may add short-term pressure.

In December 2025, Bitcoin hovered near $85K, aligning with the average cost basis of U.S. spot BTC ETFs and placing many ETF holders around breakeven. At the same time, on-chain data showed persistent profit-taking by long-term holders, capitulation by short-term holders, and weak U.S. demand, all of which left this support area vulnerable to a deeper correction. With the Coinbase Premium Index in negative territory, market sentiment remained fragile as traders watched whether $85K would hold or give way.

On December 19, 2025, BlackRock's iShares Bitcoin Trust (IBIT) ranked sixth among U.S. ETFs by 2025 net inflows, drawing more than $25 billion. Despite a roughly -9.6% YTD return, IBIT's inflows exceeded GLD's, underscoring unusually steady demand for spot Bitcoin exposure.