2025-12-25 08:22:55

The Christmas season in the crypto market feels like a collective pause button has been pressed. Originally expecting a holiday rally to boost the market, the charts reveal—this market is just too lackluster.

Bitcoin is stuck oscillating between $87,000 and $88,000, with hardly any clear direction; Ethereum fell below $2,900 and feels even more lifeless. The entire market's volatility is among the lowest of the year. Some jokingly say that the fluctuations of an average person's ECG are more intense than this candlestick.

Why is this happening? Two main reasons are at play—first, the "collective holiday" of market makers. During Western Christmas, most market makers have halted operations, leading to a sharp decrease in trading depth, and no one is eager to push the market actively. Second, with large options expirations on December 26 and at the end of the month, long and short positions are in a delicate balance. Traders are watching cautiously, afraid that breaking this balance might give opponents an opportunity. Trading volume has even hit a new low for the second half of the year.

On-chain data reflect the same "quiet" scene—active addresses have dropped 22% from the year's high in October. Interestingly, long-term holders are quietly increasing their positions. This seemingly silent, underlying accumulation might be the brewing ground before the next market rally.

Since the peak of $126,000, Bitcoin has already corrected nearly 30%. It sounds alarming, but reviewing historical data shows that such a correction is quite common during past crypto bull markets. The market is squeezing out bubbles, and institutions interpret it this way.

BTC0.15%

ETH0.02%

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SmartContractWorker

· 11h ago

Market makers are on holiday, so we should take a break too. Why stay up all night? --- Long-term holders are adding positions? Then maybe I should start bottom fishing... --- The ECG joke is hilarious; this market really has no pulse. --- A 30% correction is scary? Bro, this is just a daily fluctuation in the crypto world. --- Wait, active addresses are down 22%, isn't that a sign of concentration of chips? --- The options expiration is coming, which is the real test. Right now, we're just holding our breath for a big move. --- It's understandable to take a holiday for Christmas, but I'm worried a strong market move at the end of the month. --- Stuck between 8.7 and 8.8, probably testing the bottom. We'll only know when it breaks. --- Ethereum falling below 2900 makes me feel hopeless; I feel even more desperate. --- Basically, we're just waiting for a signal. Whoever dares to move first will be the first to die.

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LayerZeroHero

· 11h ago

This is the fate of the crypto market—once holidays arrive, everyone starts sleepwalking. Market makers taking holidays is indeed brutal; liquidity suddenly disappears, feeling like trading in a dead water pond. Long-term holders adding positions at the bottom are the smart players; us short-term traders can only watch the show. A 30% correction? Historically, that's considered minor; enduring it makes you the master. The candlestick chart is flatter than an ECG, really hilarious; it seems the market also needs to hibernate. Can there be a rally on options expiration day? Lying flat all the time isn't a solution either. Active addresses have dropped by 22%; this data is a bit cold, but aren't we just waiting here too? Market makers really can do it; once holidays start, the trend disappears—this routine is the same every year. The feeling of accumulating at the bottom is good, but it's a bit torturous. When will the explosion happen? Falling from 126,000 is indeed scary, but on the other hand, maybe it's a good opportunity to get in.

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MetaverseVagabond

· 11h ago

Market makers taking a collective holiday? Then I should take a break too, sleeping with my coins... Hodlers are quietly adding positions, I feel reassured, indicating that the smart money is optimistic. The ECG meme is hilarious, it's actually more active than the K-line. A 30% correction? What's that? In history, this is just a small matter, just a shakeout. After the settlement, there should be more excitement. Let's just relax for now, everyone.

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UnluckyMiner

· 11h ago

Market makers taking a break, just take a break. Anyway, retail investors are used to getting cut. Long-term holders adding positions? Bro, I want to add too, but I just don't have the money. If this wave is really in the brewing stage, I'll just treat it as a brewing period. Another 30% adjustment, my mentality has collapsed three times already. Wait a minute, are those big holders who hold steady truly knowledgeable or just gambling? Annual lowest volatility, even calmer than me lying flat.

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failed_dev_successful_ape

· 12h ago

Market makers are on holiday, so let's take a break too, anyway nothing can be done. Long-term holders are adding positions? Bro, you must be really rich. That analogy with the electrocardiogram is brilliant, haha. 30% correction... Is it always like this in historical data? Then why am I still bottom fishing. Let's wait until the settlement is over, anyone who moves now will die. The underlying accumulation sounds good, but I'm just worried it will take until next year. Seeing the on-chain data drop so much and still not panicking, I’m impressed. Having the Christmas holiday also pause the market is truly outrageous.

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