Bitcoin Consolidates Near $90,000 as Crypto Market Cap Surpasses $3 Trillion
Bitcoin's price has been stuck in a tight range between $85,000 and $90,000 for two weeks. On January 2, it traded around $88,600. Despite this consolidation, the cryptocurrency market capitalization reached $3.08 trillion, up 1.2% from the previous day.
The U.S. spot Bitcoin ETFs have seen a significant decline in investor interest, with $4.57 billion in combined outflows through November-December. This marked the largest two-month redemption since these products launched in January 2024. As a result, total Bitcoin ETF net assets stood at $113.29 billion on December 31, down 33% from an October peak of $169.54 billion.
Analysts suggest that this consolidation represents institutional positioning rather than panic selling as markets await fresh catalysts in 2026. Market volatility measured by Bollinger Bands narrowed to its lowest level since July, suggesting a potential significant price movement ahead.