As the Asian markets opened, Bitcoin hovered just below resistance levels, signaling a potential upward breakout, while gold and silver reached unprecedented highs. On December 26, 2025, Bitcoin (BTC) aimed for the $90,000 mark, coinciding with precious metals hitting new peaks.
Bitcoin is poised to test $90,000 as traditional finance markets resume activity post-Christmas. Meanwhile, gold and silver continued their remarkable bull run, reaching new record values. Since October, Bitcoin's price had been in a downtrend, but it now appears ready to reverse that trajectory.
TradingView data indicates that BTC/USD saw a rise of over 2% on Friday, with the Asian trading session supporting this upward movement. As Wall Street prepared to open, attention turned to a significant Bitcoin options expiry event valued at nearly $24 billion. This event was anticipated to provide the market with a chance to reset, allowing for stronger price movements.
According to trader BitBull, the expiration of these contracts would alleviate the hedging pressure that has kept prices contained, potentially leading to clearer market directions. This sentiment was echoed by other analysts, noting the recent BTC price action lacked 'organic' movement due to the impact of options.
Michaël van de Poppe, a crypto trader and analyst, expressed optimism about the crypto market's prospects in the new year. He noted that January typically sees asset managers reallocating their portfolios, with crypto and Bitcoin being attractive options compared to other assets. Van de Poppe highlighted the strong performance of gold and silver, which continued to break records and had already surpassed Bitcoin's market cap, placing them among the world's top assets.
In terms of Bitcoin's immediate price movements, the short-term market remained 'rangebound.' Even a brief rally towards $90,000 resulted in liquidations exceeding $200 million within 24 hours. Analysts pointed out that the daily closing price would be crucial in determining a breakout, with a confirmed rise potentially pushing Bitcoin towards $95,000 and beyond.
The 50-day simple and exponential moving averages for Bitcoin stood at $91,458 and $92,651, respectively, indicating that a move above these levels could pave the way for further gains. Van de Poppe described the crypto market as 'significantly undervalued,' suggesting that renewed liquidity could lead to a retest of all-time highs in the coming months.