Analysis: Bitcoin is in a "waiting period" of $85,000 to $90,000, with Christmas volatility potentially driven by options expiration

Cryptocurrency analyst Michaël van de Poppe posted on the X platform that Bitcoin has been hovering between $85,000 and $90,000 for several weeks, and now it's a waiting game, with capital only likely to flow back into the cryptocurrency market after U.S. stocks reach local highs.

Market analysis suggests that historically, Bitcoin tends to experience fluctuations of 5% to 7% during the Christmas period, a pattern that is usually related to year-end options expirations rather than new fundamental catalysts. Data shows that approximately 300,000 Bitcoin options contracts (worth $23.7 billion) and 446,000 IBIT options contracts are set to expire this Friday.