Bitcoin dipped below $90,000 on Sunday as low liquidity, weak altcoins, and a packed macroeconomic calendar kept traders cautious.
BTC $86,872.95 briefly traded under $90,000 amid subdued activity, with limited risk appetite ahead of a week of key economic data and central bank events. As of 12:40 p.m. UTC, bitcoin hovered near $89,600, down about 0.9% over 24 hours, slightly higher on the week, but roughly 7.6% lower than a month ago. Ether (ETH) $3,000.85 traded near $3,104, down on the day but outperforming BTC with a weekly gain above 2%.
Major altcoins continued to struggle. Solana, XRP, Dogecoin, and Cardano (ADA) all fell, maintaining double-digit losses over the past month. The CoinDesk 20 Index (CD20) slipped nearly 1%, while total crypto market capitalization was around $3.15 trillion, down 0.8% over 24 hours. Trading volumes remained light at roughly $89 billion, typical for a Sunday, and bitcoin dominance hovered near 57%, signaling continued concentration in the largest digital asset.
Analysts cautioned that bitcoin’s consolidation could deepen if key support levels break. Crypto strategist Ali Martinez highlighted $86,000 as a critical threshold, noting that a breach could trigger further downside.
Traders are watching a busy macro calendar. In the U.S., attention is on employment reports, inflation data, December flash PMIs, and speeches from Fed Governors Stephen Miran and Christopher J. Waller. Globally, the Bank of Japan is expected to raise rates to 0.75% at Thursday’s meeting after Governor Kazuo Ueda noted inflation above 2%. While borrowing costs remain low, tighter policy could affect yen-funded carry trades, a key source of liquidity supporting risk assets, including crypto.
For now, crypto markets remain range-bound, with muted volumes and cautious sentiment as traders await signals from upcoming data and central bank actions.
