Bitcoin slipped below $90,000 on Sunday as low liquidity, broad altcoin weakness, and a packed macroeconomic calendar kept traders cautious.
BTC $86,872.95 briefly dipped under $90,000 during subdued trading, with limited risk appetite ahead of a busy week of economic data and central bank events. As of 12:40 p.m. UTC, bitcoin traded near $89,600, down roughly 0.9% over 24 hours, slightly higher on the week, and about 7.6% lower than its level a month ago. Ether (ETH) $3,000.85 traded near $3,104, down on the day but up more than 2% for the week, outperforming BTC.
Altcoins continued to lag. Solana, XRP, Dogecoin, and Cardano (ADA) all posted declines, maintaining double-digit losses over the past month. The CoinDesk 20 Index (CD20) fell nearly 1%, while total crypto market capitalization stood around $3.15 trillion, down 0.8% over 24 hours. Trading volumes were light at roughly $89 billion, reflecting typical Sunday liquidity, and bitcoin dominance hovered near 57%, showing continued concentration in the largest digital asset.
Analysts cautioned that bitcoin’s consolidation could turn lower if key support levels fail. Crypto strategist Ali Martinez highlighted $86,000 as a critical threshold, noting that a breach could trigger further downside.
Traders are monitoring a dense macro calendar. In the U.S., attention is on employment reports, inflation data, December flash PMIs, and Fed speeches from 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 persistent inflation above 2%. While borrowing costs remain low, tighter policy could affect yen-funded carry trades, a key liquidity source for global risk assets, including crypto.
For now, crypto markets remain range-bound, with muted volumes and limited conviction as traders await clearer signals from upcoming data and central bank actions.
