Bitcoin's price slipped below $88,000 on December 29, influenced by a downturn in the futures market. The decline in Nasdaq futures contributed to a negative sentiment, with Bitcoin futures open interest falling to 533,000 BTC. This downturn also affected major altcoins, including XRP, ETH, SOL, and DOGE, which lost recent gains. The CoinDesk 20 Index dropped to 2,726, reflecting the broader market's weakness. Perpetual futures activity remained low during U.S. trading hours, potentially due to year-end tax strategies. Despite the current market conditions, John Glover of Ledn maintains a positive long-term outlook for Bitcoin, though he anticipates sideways to slightly lower price movements in the near term.