Overview
- Bitcoin trades around $86,700–$87,300 in thin holiday volumes, holding a tight mid‑range with muted intraday swings.
- Traders flag $86,700 as a pivotal level, with a hold potentially fueling a bounce toward about $88,000 and a breakdown exposing the $85,000–$88,000 zone to further pressure.
- On‑chain data show short‑term holder Net Pressure in the bottom 5% of historical readings, indicating unusually balanced buy–sell activity near $87,000.
- Short‑to‑medium‑term structure remains corrective, with lower highs and lower lows and price sitting beneath key moving averages that have turned into resistance.
- Spot ETF inflows provide limited stabilization, but weak retail participation and fragile algorithmic defenses leave the market vulnerable if support gives way.