Bitcoin pullback seen as liquidity reset; low-to-mid $80,000s emerge as key area

On 17 December 2025, Bitcoin was down more than a third from its cycle high earlier this year, with the drop attributed to tightening liquidity and aggressive deleveraging. Market participants point to the low-to-mid $80,000s as a potential stabilization zone linked to institutional ETF cost bases, while derivatives open interest has fallen sharply.