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Bitcoin traded quietly on Christmas Day, holding around $87,489 as subdued volumes replaced the volatility often seen during major market sessions.
The world’s largest cryptocurrency hovered near the lower end of its intraday range, reflecting caution rather than festive optimism among traders.
On the daily chart, bitcoin continued to retrace from its recent swing high of $94,652, signalling a pause in the broader upward momentum.
Price action remained anchored within a repeatedly tested support band between $86,000 and $87,000, which has provided short-term stability.
Market candles showed small bodies and frequent doji formations, highlighting indecision and a lack of strong directional conviction.
Analysts noted that while the broader trend remains corrective following an uptrend, bullish momentum has yet to reassert itself.
The four-hour chart reinforced this consolidation narrative, with bitcoin recovering from a dip to $86,363 before stalling near $88,000.
Trading volume continued to decline, suggesting participants were reluctant to commit capital during the holiday period.