Glassnode: The options market reinforces the Bitcoin sideways trading pattern, with the trading range between $81,000 and $95,000.

BlockBeats News, December 18th, Glassnode published this week’s market analysis stating that the market continues to fluctuate within a fragile and time-sensitive structure, influenced by a large supply, rising realized losses, and weakening demand. Prices are blocked around $93,000, then retreating to $85,600, reflecting dense supply accumulated within the $93,000 to $120,000 range, as previous strong buyers continue to suppress price rebounds. As long as the price remains below the 0.75 quantile (about $95,000) and fails to return to the short-term holding cost benchmark of $101,500, upside potential may be limited. Despite the pressure, patient demand has so far kept the true market average around $81,300, preventing further price declines. Spot demand remains selectively strong, corporate cash flow is intermittent, and futures positions continue to reduce risk rather than rebuild confidence. The options market reinforces this range-bound pattern, with near-month volatility narrowing, downward risk still present but more stable, and expiration-driven positions limiting price movements to late December. In summary, Bitcoin is currently between structural support near $81,000 and ongoing selling pressure above. For a substantial shift to occur, either sellers must exhaust all selling above $95,000, or new liquidity must flow in to absorb supply and regain the key cost basis level.