Bitcoin Misses Out on Wall Street Cheer to Stall Near $87,000

Bitcoin is missing out on the Christmas cheer.

As traditional markets move into the final days of the year with a burst of seasonal optimism, the world’s largest cryptocurrency has barely stirred. Bitcoin is trading around $87,370, pinned in a $85,000 to $90,000 range and showing little sign of life — an asset built on hype, volatility and disruption ending the year in a standstill.

The lethargy follows a bruising autumn. A sharp selloff in October knocked Bitcoin from records, draining momentum and leaving prices stranded. The token is down about 30% since around then and on track for ...