Bitcoin Dips Below $90,000 Amid Fading Risk Appetite Ahead of Key Macro Events
Bitcoin traded below $90,000 on Sunday, around $89,493.33, with earlier prints near $89,600. It was down about 0.9% in 24 hours and approximately 7.6% over the past month amid low liquidity. Ether traded around $3,098.11, down modestly but up more than 2% over the past seven days, outperforming Bitcoin on a weekly basis. Major altcoins including Solana, XRP, Dogecoin, and ADA were lower. The total market cap was about $3.15 trillion with a 24-hour volume around $89 billion, reflecting thin Sunday liquidity. Bitcoin dominance hovered near 57%, signaling ongoing concentration in the largest digital asset.
Analysts warned that Bitcoin could test lower levels if key support around $86,000 fails, suggesting a deeper pullback remains possible. Markets are positioned ahead of a busy macro calendar including U.S. employment indicators, inflation data for November, December flash PMI, and speeches by Federal Reserve Governors Stephen Miran and Christopher J. Waller. Additionally, the Bank of Japan is expected to raise its policy rate to 0.75%. Such a move would maintain accommodative monetary conditions and focus future hikes on the economy's response. However, tighter policy could impact yen-funded carry trades and liquidity conditions for risk assets, including cryptocurrencies.
