Bitcoin's price fell below the $90,000 mark over the weekend of December 15, trading around $89,600. This decline extends a correction from its all-time high of $126,000 reached in October, with the asset down roughly 7.6% over the past month. Trading volumes remained thin at approximately $89 billion, reflecting subdued market activity as the year-end holiday period approaches.
Amid the price action, a significant regulatory development emerged for a major corporate holder. MicroStrategy successfully retained its position in the Nasdaq 100 index following a review. However, a separate, pending proposal from index provider MSCI poses a substantial threat. MSCI is reviewing a rule that would exclude companies whose cryptocurrency holdings exceed 50% of total assets from its global equity benchmarks. A decision is expected by January 15.
MicroStrategy's executives, CEO Michael Saylor and CFO Phong Le, wrote a 12-page letter to MSCI warning of "profoundly harmful consequences" if the rule is adopted. They argued MSCI should "remain neutral and let the markets decide." Analysts at JPMorgan estimate the proposal could trigger stock outflows of up to $8.8 billion from MicroStrategy if other index providers follow suit.
The broader market showed mixed signals. Ethereum (ETH) traded near $3,104, showing relative strength with gains of over 2% in the past week. In contrast, other major altcoins like Solana (SOL), XRP, Dogecoin (DOGE), and Cardano's ADA declined, with some posting double-digit losses over the past month. The total crypto market cap stood at nearly $3.15 trillion, down 0.8% in 24 hours, with Bitcoin's dominance near 57%.
Analyst outlooks have turned more cautious. Standard Chartered sharply cut its year-end 2025 Bitcoin price forecast from $200,000 to $100,000. Crypto analyst Ali Martinez identified $86,000 as a critical support level for BTC, warning that a break below could lead to a deeper pullback toward $70,000.
Market participants are awaiting key economic data for direction, including U.S. employment indicators, inflation data, and flash PMI readings. Speeches from Federal Reserve Governors and an anticipated interest rate hike by the Bank of Japan are also in focus. Blockstream CEO Adam Back commented that Bitcoin adoption remains in "very early stages," predicting all companies will eventually become Bitcoin treasury companies.
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