Address 0xa8e on Hyperliquid suffered a $14.14M BTC short liquidation on Dec. 26 following a 3% BTC price spike, HyperInsight and Coinglass data show. Two 40x leveraged liquidations totaled $17.63M over the past hour. The address subsequently opened a new 40x short position worth approximately $7.10M at $89,040, with a liquidation level set at $89,820.

Chinese crypto analyst Banmuxia said on Dec. 26 that Bitcoin's downside appears limited over the next one to two months, with a potential adjustment expected around March or April. He noted that a sharp drop below $80,500 or even to $71,000 could occur if ETF funds see significant outflows, though he described this as a low-probability scenario. Banmuxia added that Bitcoin's trading range has narrowed to an extreme level and a clearer directional move is likely soon.

Bitcoin traded above $89,000 on Dec. 26, rising 1.69% over 24 hours, HTX data show. The cryptocurrency broke through the $89,000 level during the session.

Bitcoin faces its largest annual options settlement on Dec. 26 at 16:00 UTC+8, with notional value of roughly $23.6 billion and max pain near $96,000, BlockBeats reports. Price has held between $85,000 and $90,000 ahead of expiry, with gamma hedging keeping volatility low during thin Christmas trading. After settlement, analysts cited by BlockBeats expect volatility to rise and see scope for a move above $90,000, with some eyeing $100,000 and a potential year-end rally.

Bitcoin climbed above $88,000 on December 26 and was quoted at $88,425 with a 24-hour increase of 0.8%, HTX data show. The price move highlights Bitcoin's latest intraday performance on the HTX trading platform, where the leading cryptocurrency continues to trade near the $88,000 level.

Strategy CEO Phong Le said Bitcoin's core market fundamentals remain strong heading into 2025, despite a year-end price retreat and subdued sentiment, Cointelegraph reported on Dec. 26. He noted the U.S. government and banking system are providing broad support for Bitcoin, making him "extremely bullish" on 2026 market conditions. Le added that he and Michael Saylor plan to meet with traditional banks in the U.S. and UAE seeking to understand how to keep pace with cryptocurrency sector developments.

On December 26, a major crypto trader opened a $31 million Bitcoin short on Hyperliquid at an entry price of $87,718.8, according to HyperInsight. The same trader also initiated a smaller $100,000 short on AAVE near $150. The trades signal short-term bearish positioning from a large market participant and are being closely watched for broader market implications.

Bitcoin has been associated with a record increase in U.S. Securities and Exchange Commission filings in 2025, as institutional participation in blockchain-related activities grows, The Block reported. According to the outlet, institutional filings involving blockchain had been lower in previous years amid regulatory uncertainty, and the recent rise reflects increased onchain activity by traditional financial institutions.