2025-12-25 11:23:57

This past year, Bitcoin has experienced many ups and downs, but the current consolidation appears somewhat subdued.

Unlike the "Santa Claus rally" typical of the traditional stock market during the Christmas season, Bitcoin's fundamentals are currently weak, institutional funds are flowing out, and market participation has noticeably become more conservative.

**Prices are still stagnant**

BTC is now oscillating within the range of $86,400 to $88,000. Reflecting on the high point in October this year, around $126,000, it has now retraced approximately 30%. This decline isn't particularly shocking, but it has certainly altered the expectations of many.

Recent trends seem somewhat "lukewarm." One reason is that over $23 billion worth of options are set to expire this week. Many investors have chosen to hold their coins and stay on the sidelines, leading to a significant reduction in trading volume before and after Christmas, and market volatility has also diminished. The futures market shows long positions piling up, which could actually mean that upward movement will face greater resistance.

**Institutional enthusiasm is waning**

Spot BTC ETFs have recently experienced noticeable net outflows. Just last week, nearly $500 million in funds exited, with a single-day outflow of $142 million on December 22. Even BlackRock's massive iBIT has seen substantial inflows since inception, but many of its positions are now in the red.

Interestingly, the real driving force behind this bull market isn't primarily macro factors like USD supply—Bitcoin halving does have an effect, but changes in institutional fund flows have a greater impact. The USD factor has not played a decisive role in this cycle.

BTC1,75%

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0xTherapist

· 2025-12-28 11:22

Institutions run away, retail investors take the fall—classic套路. --- A 30% drop isn't shocking? That's easy to say. --- 230 billion options expire, just watch quietly—this wave is really timid. --- IBIT lost money but still hyping up institutional optimism—what a joke. --- No macro driving force, still can rise? Come on, just wait to be cut. --- Christmas market bubble burst, is December going to be like this? --- Institutions net outflow of 500 million, why am I still waiting for a rebound? --- Long positions piling up = trapped, simple game. --- Fallen from 126,000 to 88,000, claiming 30% isn't shocking—really daring. --- Dollar factor no longer important? Then when will it matter—waiting for a drop below 80,000?

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AltcoinMarathoner

· 2025-12-27 08:00

ngl, this is just mile 20 energy. everyone panics when the pace slows but the finish line hasn't moved. institutional flows matter more than the noise.

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SerLiquidated

· 2025-12-25 11:53

BlackRock's IBIT is now losing money too. These days, no one can expect to win effortlessly.

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SmartContractPhobia

· 2025-12-25 11:53

The institution has run away, and we're retail investors still here picking up the pieces.

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ColdWalletAnxiety

· 2025-12-25 11:44

Once institutions start selling off, retail investors still dare to rush in? That's hilarious. The little options pressure really just scares people away.

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InscriptionGriller

· 2025-12-25 11:32

Once an institution runs away, the retail investors have to take the fall. This trick has been played out completely.

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LuckyBlindCat

· 2025-12-25 11:31

Institutions are running, retail investors are still sleepwalking, this is the current situation. --- Santa Claus didn't come, only the sound of cutting losses. --- 230 billion options are expiring, what is everyone waiting for? Anyway, I don't dare to move. --- Falling from 126k to now, a 30% correction isn't surprising? What’s wrong, used to being trapped? --- IBIT is losing money, who else is bottom-fishing? I really give up. --- Institutions are not moving, retail investors are following suit. Well, this is the rhythm of being harvested. --- Bullish accumulation is actually a pressure? Alright, let's think about it from a different perspective, everyone. --- Being lukewarm is the most frightening; at least when it drops, you can still make a bold move. --- Five billion dollars ran away, this is the most genuine signal, more straightforward than any analysis.

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