On December 26th, Boxing Day, global financial markets gradually resumed trading activity after the Christmas holiday. Bitcoin prices regained upward momentum, challenging the key $90,000 level. Meanwhile, gold and silver prices simultaneously hit new all-time highs, making precious metals and cryptocurrencies the market’s focal points.
According to TradingView data, BTC/USD increased by over 2% on the day, with continued upward momentum during Asian trading hours. As Wall Street prepares to open, traders are paying close attention to a key variable—the expiration of Bitcoin options worth nearly $24 billion. The market generally believes this event will help release the hedging pressure that previously suppressed prices, “freeing” Bitcoin’s price movement.
Crypto trader BitBull stated that after options expiration, the influence of derivative structural factors on prices will significantly weaken, and the market will more accurately reflect genuine holding demands. He pointed out that recent Bitcoin price deviations from natural trends are closely related to hedging behaviors in the options market, and this situation is expected to be corrected after expiration.
Renowned crypto analyst Michaël van de Poppe also holds a relatively optimistic outlook for the future. He believes that the New Year is typically a window for asset management firms to rebalance their portfolios. From a risk-reward perspective, commodities tend to experience pullbacks after reaching new highs, tech stocks are overvalued, and Bitcoin and cryptocurrencies may become more attractive allocation options.
Notably, gold and silver continued to strengthen on the day, both hitting new all-time highs. According to Infinite Market Cap data, silver’s market value temporarily surpassed Bitcoin, becoming the third-largest asset globally, behind gold and NVIDIA. This shift highlights the strong position of safe-haven and hard assets in the current macro environment.
From a technical perspective, Bitcoin remains within a correction range since October. Analysts generally believe that the daily closing price will be a key indicator for determining whether a true breakout of the downtrend has occurred. If Bitcoin can hold above $90,000, it may open the door to a new upward wave; otherwise, the consolidation range could persist.
Overall, with Bitcoin options expiring, market liquidity recovering, and precious metals continuing to strengthen, the crypto market is entering an important observation window. Whether Bitcoin can leverage this momentum to break through $90,000 will be a key focus for short-term market trends.
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