Bitcoin is fluctuating near $90,500 after pulling back from late‑2025 highs, with buyers defending dips and sellers capping gains below key resistance zones. Price action around $90,000–$92,650 is unfolding as a criminal investigation into Fed Chair Jerome Powell and political tension over interest‑rate policy add uncertainty ahead of the 28 January FOMC meeting. Technical readings show compressed trading ranges and mixed signals, with some indicators pointing to short‑term caution but others suggesting a possible breakout if $94,000 is cleared.

In early 2026, Bitcoin climbed above $93,000, extending a roughly 3.3% weekly advance and trading over $92,000 with support near $91,500. Traders are weighing bullish on-chain and technical indicators against lingering macro uncertainty and speculation over Venezuela's alleged 600,000–660,000 BTC stockpile, which some see as a potential supply shock for the market.

Bitcoin began 2025 at $93,000, hit over $126,000 in October, and traded just above $87,300 at publication, down about 6.5% for the year. On December 26, 2025, Maartunn said over 6.6M BTC were above spot and at a loss, while seven transfers totaling 13,904 BTC moved about $1.03 billion. TradingView shows stabilization near $88,700, with $86k–$88k support and $95k needed to regain momentum.

Bitcoin has gained more than 1.2% in 2025 and recently rebounded to around $94,000. Rising Japanese government bond yields — with the two-year briefly above 1% and the 20-year near 2.947% — risk pulling hundreds of billions of dollars back home and tightening global liquidity, pressuring Bitcoin, stablecoins and other risk assets. If Japanese yields hold above 2.9%, Bitcoin could drop 5–8% as yen carry trades unwind and investors rotate toward safer markets.

Bitcoin rebounded above $92,000 on Monday after dropping below $84,600 last week. Technical signals remain soft, and ETF open interest shows rising put positioning. Analysts expect BTC to stabilise around $100,000 to $120,000 by late 2025, with scope for a second peak in 2026. Macro expectations, US policy shifts and increasing on-chain "liveliness" suggest long-term investors may be re-entering the market.

Bitcoin dropped below $86,000 on December 1, extending November's 17% decline—the largest monthly loss for the asset in 2025 and its worst November since 2018. The selloff erased a week of gains within hours, wiping more than $144 billion from total crypto market capitalization. Long position holders absorbed losses exceeding $535 million as thin weekend liquidity and cascading liquidations amplified volatility.

Strategy's shares have declined more than 67% from their 2025 high as Bitcoin dropped over 36% from above $126,000. The company paused its regular Bitcoin purchasing this week while trading near a 14-month low. The halt marks the first notable break in a months-long acquisition pattern amid concerns over potential removal from major indexes.

Bitcoin fell to $93,000 on Sunday, its lowest level since May, as the cryptocurrency market saw $619 million in liquidations over 24 hours. The Crypto Fear & Greed Index dropped below 10, entering extreme fear territory. Analysts cite liquidity pressures and delayed government payments as primary drivers of the selloff.

Bitcoin maintains levels above $100,000 while gold trades near $4,100 per ounce as investors assess year-end momentum potential for both assets. Both reached significant peaks in 2025, with Bitcoin hitting $125,000 in October and gold touching a record $4,380 before retracing. The assets now compete for investor attention amid seasonal trading patterns and evolving macroeconomic conditions.