Bitcoin slipped below $90,000 on Sunday as low liquidity, weak altcoins, and a busy macroeconomic calendar kept traders cautious.
BTC $86,872.95 briefly fell under $90,000 during quiet trading, with limited risk appetite ahead of a week packed with economic data and central bank events. As of 12:40 p.m. UTC, bitcoin was trading near $89,600, down about 0.9% in 24 hours, slightly higher on the week, but roughly 7.6% lower than a month ago. Ether (ETH) $3,000.85 hovered near $3,104, down on the day but outperforming BTC over the past week with a gain of more than 2%.
Altcoins also struggled. Solana, XRP, Dogecoin, and Cardano (ADA) posted declines and maintained double-digit losses over the past month. The CoinDesk 20 Index (CD20) fell nearly 1%, while total crypto market capitalization stood near $3.15 trillion, down 0.8% over 24 hours. Trading volumes remained light at around $89 billion, typical for a Sunday, and bitcoin dominance hovered near 57%, indicating continued concentration in the largest digital asset.
Analysts warned that bitcoin’s consolidation could deepen 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 watching a dense macro calendar. In the U.S., employment reports, inflation data, December flash PMIs, and speeches from Federal Reserve Governors Stephen Miran and Christopher J. Waller are in focus. Globally, the Bank of Japan is expected to raise rates to 0.75% at Thursday’s meeting after Governor Kazuo Ueda highlighted inflation above 2%. While borrowing costs remain low, tighter policy could impact yen-funded carry trades, a key liquidity source supporting 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 macro data and central bank decisions.
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