The Coinbase Premium index fell to -0.237 at the end of the year, the lowest in the past 12 months, due to increased selling pressure in the U.S. market.

Bitcoin dropped to $91,500 amid low liquidity, indicating caution from U.S. investors and a lack of demand from institutions.

For Bitcoin to recover short-term prices, a change in macroeconomic conditions or renewed interest from institutional and individual investors is needed.