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cryptonews 2026-01-02 18:22:32

Bitcoin Reclaims $90K as U.S. Buying Returns – Has the Tax-Drag Finally Ended?

Bitcoin broke the psychological $90,000 barrier on Friday, trading at $90,742 (+3.2%) during the New York session, effectively snapping a Q4 2025 trend where U.S. trading hours were dominated by selling pressure. The reversal reflects the end of end-of-year tax-loss harvesting that drove Bitcoin down 23% in Q4. Buying volume accelerated at 09:30 ET, contrasting sharply with the “4 p.m. sell-off” pattern observed throughout December. CoinGlass data show futures open interest jumped 2.16% to $130 billion in the last 24 hours, indicating renewed leverage appetite. The Floor & The Flows MicroStrategy (MSTR) likely established the local floor. The firm disclosed on Dec. 29 that it had purchased 1,229 BTC at an average price of $88,568 , defending the range ahead of the New Year. Strategy has acquired 1,229 BTC for ~$108.8 million at ~$88,568 per bitcoin and has achieved BTC Yield of 23.2% YTD 2025. As of 12/28/2025, we hodl 672,497 $BTC acquired for ~$50.44 billion at ~$74,997 per bitcoin. $MSTR $STRC $STRK $STRF $STRD $STRE https://t.co/UGvjHj5WPg — Strategy (@Strategy) December 29, 2025 Miners are front-running the risk-on shift. Hut 8 outperformed the spot market, rallying nearly 15% to $50.73. “The crypto market opens 2026 on a balanced note, driven by renewed institutional interest, clearer regulations, faster ETF approvals by the SEC, and the GENIUS Act’s stablecoin framework, which have boosted confidence, even as most inflows remain concentrated in Bitcoin and Ethereum,” Riya Sehgal, Research Analyst at Delta Exchange, noted in an article from The Economic Times . That dynamic flipped on Friday as U.S. spot ETFs and proxies, such as Coinbase (+3%), caught a bid. Market Outlook Despite the rally, prediction markets remain cautious. Polymarket bettors currently assign only 26% odds to Bitcoin exceeding $150,000 in 2026, favoring a consolidation year. Immediate resistance sits at the Q4 2025 breakdown level of $92,500. The headline isn’t the price; it’s the timing . Throughout Q4 2025, U.S. liquidity was the exit liquidity—consistent selling during NY hours to harvest losses. Friday’s price action confirms that the “tax drag” is gone. Desks should monitor the ETH/BTC ratio ($0.034); if U.S. institutions are truly risk-on, expect rotation into high-beta alts and miner equity to outpace spot BTC in the short term. The post Bitcoin Reclaims $90K as U.S. Buying Returns – Has the Tax-Drag Finally Ended? appeared first on Cryptonews .

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