Bitcoin has shown limited directional strength in finishing sessions, reflecting a calm end to 2025. Price development has remained narrow, reducing the likelihood of sudden volatility as the year changes.
While stability brings predictability, some investors express frustration over the lack of sentiment after uneven months.
Bitcoin holders are selling at a loss
Trading has slowed down particularly in the final weeks of 2025. Steady price movement and seasonal holidays have drawn traders away from active participation. Volumes on the largest exchanges have decreased, reflecting a reduction in speculation and risk-taking.
Without unexpected price-driving factors, Bitcoin and the broader altcoin markets are experiencing their quietest two-week period compared to a year ago. Such behavior suggests that investors are cautiously managing their expectations and favoring patience over aggressive positioning amid prevailing uncertain short-term signals.
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On-chain data shows continued selling pressure despite price stability. Realized loss volume, adjusted for internal transfers and smoothed over a 90-day moving average, is now around 300 million dollars per day. This metric highlights ongoing selling from certain market participants.
Bitcoin remains above the True Market Mean level (81,000 dollars), but selling at a loss has not clearly decreased. Investors who entered at local peaks still appear to be more impatient. As a result, their distribution slightly drives the macro sentiment bearish, limiting rebound possibilities in the short term.
The price of Bitcoin is 88,410 dollars and remains above the key support level of 88,210 dollars. Despite this stability, BTC has declined by about 5.5% since the beginning of the year and is set to end 2025 in the red. As 2026 approaches, traders are again expecting more volatility after a long consolidation phase.
Technical indicators support this view. Bitcoin's Bollinger Bands have tightened, signaling reduced volatility. Historically, such tightening often precedes strong price movements. If selling pressure eases and the macroeconomic environment remains favorable for risk investments, a price rally may be expected.
If volatility does not pick up, the current trading range will remain intact. In this case, the price of Bitcoin may continue to consolidate around 88,210 dollars in 2026. If selling increases, the price could drop towards 86,247 dollars or lower, which would nullify the bullish scenario and continue the period of uncertainty in the markets.