Bitcoin Consolidates at $89K as Crypto Market Cap Surpasses $3 Trillion

Bitcoin's price has remained range-bound between $85,000 and $90,000 for two weeks, trading around $88,600 on January 2.

The total cryptocurrency market capitalization reached $3.08 trillion, up 1.2% from the previous day.

U.S. spot Bitcoin ETFs experienced their worst two-month stretch in November-December with a combined $4.57 billion in outflows.

This marked the largest two-month redemption since these products launched in January 2024, coinciding with a 20% drop in Bitcoin's price during this period.