On December 16, Bitcoin once again fell below the $86,000 mark, signaling a broader weakening trend in the cryptocurrency market. According to RadexMarkets, this pullback is not an isolated event but rather part of a long-standing pattern of Bitcoin underperforming during U.S. trading hours.
In the short term, Bitcoin remained relatively stable overnight, but selling pressure intensified significantly as U.S. stock markets opened. RadexMarkets noted that this "time-based divergence" has become a key market signal, reflecting shifts in capital flows and the trading mechanisms of spot Bitcoin ETFs. Data shows that the performance gap between post-market holding strategies and intraday trading continues to widen.
Against this backdrop, declines in crypto-related stocks were unsurprising. Companies such as Strategy, Circle, Coinbase, and several trading platforms and mining firms saw notable adjustments. RadexMarkets highlighted that compared to the modest pullbacks in traditional stock indices, the independent decline in the crypto sector underscores deepening divergence within risk assets.
From a macro perspective, this week’s key economic data and central bank policy meetings may impact global liquidity expectations. While these factors have yet to directly alter Bitcoin’s medium-term range structure, RadexMarkets observed that market sentiment has grown noticeably cautious toward year-end, with capital increasingly focused on risk control.
Technically, Bitcoin remains within a consolidation range of $80,000 to $94,000. RadexMarkets pointed out that order books indicate concentrated buy-side interest around $85,000, which could serve as a short-term buffer to limit further downside.
Overall, despite cooling year-end rebound expectations, the current price action appears more like a phase of digestion and position unwinding. RadexMarkets believes that, in the absence of structural bearish catalysts, this process does not yet signify a trend reversal, and the market still requires time to complete its adjustment and rebalancing.