Bitcoin closing in on $89,000 level toward year-end

Bitcoin price today

• Bitcoin trades above $88,329, up 1.29% in a day, with $84,000 as key support
• ETH, ADA, SOL, and XRP see modest gains; Tether dips slightly
• Institutions increase crypto exposure; global liquidity and optimism rise

Did our AI summary help?

The Bitcoin price stood just above $88,329 on December 31 (10:38 a.m. IST), representing a gain of 1.29 percent in a day and 0.40 percent in a week. The world's largest cryptocurrency dipped to the lowest of $87,825.22 and peaked at $88,665.63 during the morning session.

CoinSwitch Markets Desk predicts that a sustained weekly close above $94,000 could pave the way toward $101,000 and $108,000, though resistance remains strong. On the downside, $84,000 continues to be a key support level.

The volatility has been observed across other cryptocurrency tokens as well, with ETH up 0.97 percent, ADA up 0.17 percent, SOL up 1.43 percent, XRP up 0.10 percent, whereas Tether is down 0.01 percent in the past 24 hours.

"The top gainers for the day are Canton and DoubleZero, with 15.93% and 11.26%, followed by Chilliz and Humanity Protocol by 8.75% and 7.87%. Besides, Sky, Morpho, pippin and Mantle drop by over 3% each, followed by Curve DAO, Flare, and Algorand, by 2% each," stated CoinDCX Research Team in their daily brief.

Check out the cryptocurrency prices on December 31, as of 10:38 a.m (IST).

Why is Bitcoin down? 

"The crypto market ends 2025 subdued. Despite earlier highs above $126,000, Bitcoin risks closing the year in the red, signalling consolidation rather than a cycle breakdown. A dovish shift, improving liquidity, and stable macro conditions could reignite bullish momentum by Q2 2026, setting the stage for crypto’s next recovery phase," said Riya Sehgal, Research Analyst, Delta Exchange.

What’s happening in the crypto market?

Nischal Shetty, Founder of WazirX, said, "As we close the final day of the year, the crypto industry indicates a balanced sentiment globally with some restrictive factors in a few parts of the world being overshadowed by optimism around new economic developments."

Here’s a rundown on what’s happening in the crypto market, according to Shetty:

• Bitcoin witnessed a liquidation of $143.55 million in the past 24 hours.
• Risk-off assets, such as gold, which have had a good run in the last few months, also saw a decline before modestly rebounding.
• Technical indicators and expert predictions show that Bitcoin is poised to outperform gold in the short term. However, the volatility which is gripping capital infusion across assets will keep the market on its toes, as is being observed based on historical patterns.
• Institutions are not watching on the sidelines anymore. With no deterrent in sight, they’re going all in with Grayscale filing for registration of an ETP for providing AI token access.
• Family office data across the world also shows a steady but calibrated approach towards crypto exposure.
• China's reclaiming of manufacturing expansion is a positive sign for liquidity improvement globally, which is usually a bonus for crypto.
• Meanwhile, softer U.S. inflation data sparked optimism for rate cuts, but economists remain cautious of a revision based on official sources confirming the final numbers.