Bitcoin’s Year-End Consolidation: A Springboard for 2026’s Bull Run

As 2025 draws to a close, bitcoin finds itself in a period of strategic consolidation, trading within a tight corridor between $86,500 and $90,000. This phase, characterized by thin holiday liquidity and subdued spot volumes, is not a sign of weakness but rather a typical year-end pause that often precedes significant directional moves. The recent rejection at the psychological $90,000 barrier, primarily fueled by short covering rather than robust organic buying, highlights the market's current fragility due to shallow order books. However, for the astute crypto practitioner, this consolidation beneath a major resistance level represents a critical accumulation zone. The dwindling trading activity provides a clearer technical picture, stripping away the noise of high-frequency speculation. This period of compression is historically a precursor to powerful breakout moves. With the macroeconomic landscape for 2026 looking increasingly favorable for hard assets and decentralized finance, Bitcoin's current price action is setting the stage. The thin liquidity, while amplifying short-term volatility, ultimately creates the conditions for a sharp move once institutional and retail capital returns in full force post-holidays. The failure to decisively breach $90,000 is a temporary setback, not a trend reversal. The underlying fundamentals of network security, adoption curves, and monetary policy divergence remain profoundly bullish. This consolidation is therefore viewed as a necessary and healthy process, allowing the market to digest recent gains and build a stronger foundation for the next leg up, with targets well beyond six figures in the coming year. The patience required now will be rewarded as the structural bull market resumes its course.

Bitcoin Consolidates Below $90K Amid Thin Holiday Liquidity

Bitcoin's price action remains constrained within a narrow $86,500–$90,000 range as year-end trading volumes dwindle. The cryptocurrency briefly touched $89,000 on December 30 before facing rejection NEAR the $90,000 psychological barrier—a move driven more by short covering than genuine buying interest.

Market depth appears fragile with holiday-thinned order books amplifying price movements. Spot volumes across U.S. venues have halved from October's $70 billion peak when BTC achieved its $126,279 all-time high. That period also witnessed a violent liquidation event on October 10 that reset Leveraged positions across derivatives markets.

ETF flows mirror the cautious sentiment. Digital asset products bled $446 million last week, with Bitcoin-specific outflows accounting for $443 million. The bleeding paused momentarily on December 31 when U.S. spot Bitcoin ETFs recorded a $355 million net inflow—snapping a seven-day redemption streak—led by BlackRock's IBIT and Ark's ARKB products.

Bitcoin Price Manipulation Claims Dismissed by Strategy CFO Amid Market Slump

Bitcoin's year-end decline has reignited speculation about market manipulation, with some observers suggesting coordinated price suppression. Andrew Kang, CFO of Strategy, dismissed these claims during a December 30 interview with Natalie Brunell's Coin Stories, arguing that Bitcoin's market scale makes systemic manipulation implausible.

Kang acknowledged isolated attempts to influence markets but emphasized that no single actor could meaningfully control Bitcoin's price at its current valuation. The discussion touched on the October 10 liquidation event and MSCI's memo about digital asset treasury companies, which some commentators linked to alleged manipulation.

Market sentiment reflects broader macroeconomic uncertainty rather than Bitcoin-specific weakness, Kang noted. Rate expectations and tech sector volatility continue to shape cryptocurrency's risk profile alongside traditional assets.

The Investment Scorecard for 2025: Hard Assets Outshine Digital

Gold, silver, and industrial metals dominated 2025 as inflation hedges and green energy demand overpowered crypto's momentum. Bitcoin fell after its 2024 rally while silver skyrocketed 146%—the highest return among major assets.

Trade wars and central bank accumulation drove gold to real-term highs unseen since the 1970s. Copper and silver rode structural tailwinds from solar infrastructure and AI data centers. Even geopolitical shocks failed to sustain energy prices as oversupply fears emerged.

Market volatility defied the year's turbulence, with the VIX fear index dropping 16%. The stage is set for 2026 debates: Can precious metals extend their run, or will digital assets reclaim dominance?

Prenetics Pauses Bitcoin Treasury Strategy Amid Market Weakness and IM8 Growth

Prenetics, the Nasdaq-listed health sciences company backed by David Beckham, has halted its daily Bitcoin purchases as of December 4, 2025. The firm will retain its existing holdings of approximately 510 BTC but will no longer add to its treasury reserves. The decision follows a period of subdued crypto markets and a recent $48 million equity raise aimed at bolstering its consumer health brand, IM8.

Management cited the need to preserve cash and shareholder value as the primary driver behind the pause. The company had previously mirrored the treasury strategies of other public firms accumulating Bitcoin as a reserve asset. However, deteriorating market conditions prompted a reevaluation.

IM8, Prenetics' consumer health venture co-founded with Beckham, has emerged as a focal point for growth. The brand reportedly surpassed $100 million in annualized recurring revenue within 11 months of launch, diverting corporate attention and resources away from crypto acquisitions.

Bitcoin Market Stress Persists as Short-Term Holders Remain Underwater

Bitcoin's struggle to sustain momentum above $90,000 reflects broader market indecision, with short-term holders still underwater. Analyst Axel Adler's on-chain data reveals weak new demand and price-insensitive buying, signaling prolonged stress rather than capitulation.

Fear and apathy dominate as rallies face sell pressure, eroding confidence. Until short-term holder profitability improves, sentiment remains constrained, with some analysts predicting a bearish phase extending into 2026.

Crypto Promotion Lawsuit Against Mark Cuban and Dallas Mavericks Dismissed

A US federal judge dismissed a lawsuit against billionaire Mark Cuban and the Dallas Mavericks, ending claims that their promotion of Voyager Digital contributed to its collapse. Judge Roy K. Altman ruled the plaintiffs failed to establish jurisdiction in Florida, where the case was filed.

The lawsuit alleged Cuban encouraged fans to use Voyager's interest-bearing accounts after revealing his personal investment during a 2021 Mavericks press conference. Team promotions, including a $100 Bitcoin incentive for app downloads, were also cited. Cuban's legal team maintained he consistently advised caution with crypto investments.

Voyager, which held billions in assets, filed for bankruptcy in 2022 amid broader crypto market turmoil. The dismissal without prejudice concludes years of litigation but leaves open the possibility of refiling in another jurisdiction.