BTC to PKR, ETH to PKR Rise as Bitcoin Reclaims $89,000

BTC to PKR strengthened on Tuesday as Bitcoin climbed above $89,000, showing an unusual gain during U.S. trading hours after weeks of decline. At this level, BTC to PKR was trading around PKR 24.9–25.1 million, reflecting improved short-term sentiment, though analysts warn the rally is largely driven by short covering rather than fresh long positions and ETH to PKR near ₨830,000 as of December 30, 2025 .

Bitcoin rebounded to nearly $89,133 after falling to $87,000 a day earlier. This move marked a notable shift, as BTC had dropped almost 20 percent cumulatively during U.S. trading hours over the past month. The rebound quickly translated into gains in BTC to PKR, closely tracking the global price recovery.

A market watcher said, “The bounce looks technical, with BTC to PKR reacting instantly to the global price jump, but sustained upside needs stronger inflows.”

Data from Coinglass showed Bitcoin open interest falling from around 514,000 BTC to 511,000 BTC during the price rise. This decline indicates traders closing short positions rather than opening new leveraged longs, suggesting the upside may be limited in the near term.

Despite Bitcoin’s gain, the wider crypto market remains fragile. Spot Bitcoin ETFs recorded $19.3 million in net outflows, marking the seventh consecutive day of redemptions. Analysts attribute weak sentiment to year-end de-risking, tax-loss harvesting, and thin holiday liquidity. Crypto related stocks and major U.S. indices remained largely flat, signaling cautious risk appetite.