Bitcoin Trapped in Tight Range as Crypto Market Cap Hits New High

Bitcoin's price has been stuck in a tight range between $85,000 and $90,000 for two weeks. The cryptocurrency traded around $88,600 on January 2, gaining approximately 1.3% over 24 hours. This follows a volatile end to 2025, with Bitcoin dropping about 20% during the November-December period.

The total market capitalization of cryptocurrencies has reclaimed the $3 trillion mark, up 1.2% from the previous day. This is despite record outflows from U.S. spot Bitcoin ETFs, which saw a combined $4.57 billion in redemptions through November and December.

Bitcoin's price decline coincided with the largest two-month redemption since the launch of these products in January 2024. The 11 spot ETFs posted $1.09 billion in outflows for the month of December, following $3.48 billion in November outflows.