Bitcoin's price failed to hold above $90,000 for an extended period due to factors including reduced liquidity from the Christmas holidays, a surge in precious metal prices, and an upcoming record number of options expirations. These factors collectively impacted the cryptocurrency market's price movements. Approximately 300,000 Bitcoin options contracts (with a notional value of about $23.7 billion) expired on Friday, double the number from the same period last year, with positions concentrated around the $85,000 and $100,000 strike prices. Timothy Misir, Head of Research at BRN, stated that the market tone remains defensive. Rebounds lack follow-through momentum, while sell-offs, though small in scale, have been prolonged. (The Block)