Major alternative cryptocurrencies slipped on Tuesday as volumes remained thin and bitcoin BTC traders continue to eye range play in the leading cryptocurrency.

Bitcoin hovered around $87,300, down about 3% over 24 hours, while ether fell near $2,950. XRP traded around $1.86, also down on the day, as most large caps drifted lower with no major catalysts and limited participation from U.S. desks.

“Bitcoin’s outlook for Q1 2026 leans more toward a scenario of stability and renewed accumulation rather than a strong growth phase at the beginning of the year,” Linh Tran, a Senior Market Analyst at XS, said in an email. “Price fluctuations may remain within a range of approximately USD 80,000 to USD 100,000.”

“Monetary policy is not yet sufficiently accommodative, ETF flows remain selective, and the regulatory environment is still in a phase of consolidation, all of which limit the market’s ability to rapidly enter a new bullish cycle,” Tran added.

For now, the price action continues to reflect a market that is struggling to attract new risk while many participants remain in cautious mode. With volatility low and liquidity uneven, even modest sell programs can push prices through intraday support, especially during U.S. hours when tax and book cleanup flows tend to be more concentrated.

In the near term, traders are watching to see whether bitcoin can hold the mid-$80,000s into the new year, or whether another thin holiday dip forces a deeper reset before liquidity and conviction return.

Meanwhile, Asian stocks cooled after a seven-day winning streak, with several regional markets closing out the year on Tuesday. MSCI’s Asia Pacific index slipped 0.1% after Monday’s run capped its longest stretch of gains since September. U.S. futures were little changed after the S&P 500 fell 0.3% and the Nasdaq 100 dropped 0.5% overnight.

A gauge of global equities also dipped for the first time in eight sessions, although it remains on track for its best year since 2019. Gold and silver steadied after pulling back from record highs.

Another metal, copper, extended its December surge, rising as much as 2.2% to $12,493 a ton and heading for a 10th straight gain, its longest streak since 2017. A weaker dollar and renewed supply worries have helped keep sentiment firm.

Copper futures are up more than 40% this year, putting the red metal on course for its biggest annual rise since 2009.

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