Bitcoin Eyes $90k, Bullish Trend Breakout As Gold, Silver Hit Fresh...

Bitcoin simmered below resistance but teased a bullish breakout as the Asia trading session accompanied new all-time highs for gold and silver.

Bitcoin (BTC) aimed for $90,000 on Boxing Day as precious metals set yet another all-time high.

Bitcoin seeks a retest of $90,000 as TradFi markets return after the Christmas break.

Gold and silver waste no time in setting new all-time highs, continuing their historic bull run.

BTC price action attempts to ditch a downtrend in place since October.

Data from TradingView showed BTC/USD was up more than 2% on Friday, with the Asia trading session sustaining the upside.

Ahead of the Wall Street open, traders eyed a giant Bitcoin options expiry event worth almost $24 billion.

As Cointelegraph reported, this was viewed as a chance for the market to reset, paving the way for price strength.

“As these contracts roll off, the hedging pressure that’s been keeping price compressed starts to disappear,” trader BitBull commented in a post on X.

BitBull described recent BTC price action as lacking an “organic” component thanks to the influence of options.

Source: CoinTelegraph