Analysis suggests Bitcoin is stuck in a "waiting period" of $85,000–90,000, with Christmas volatility potentially driven by options expiration.

crypto analyst Michaël van de Poppe posted on the X platform that Bitcoin has been hovering between $85,000 and $90,000 for weeks. It is now a waiting game, and capital will only flow back into the cryptocurrency market after the US stock market reaches a local high.Market analysis suggests that historically, Bitcoin tends to experience 5% to 7% volatility during the Christmas period. This pattern is usually related to the year-end options expiry rather than new fundamental catalysts. Data shows that around 300,000 Bitcoin option contracts (worth $23.7 billion) and 446,000 IBIT option contracts are set to expire this Friday.