Bitcoin Dips Below $90K in Quiet Trading as Macro Week Looms 📉
Bitcoin (BTC) briefly slipped below the $90,000 psychological level during Sunday's low-liquidity session, while major altcoins continued to show weakness. Traders appear cautious, positioning for a busy week packed with U.S. economic data and central bank decisions.
Key Market Snapshot:
· BTC: ~$89,600 (-0.9% in 24h | ~+0.3% on week)
· ETH: ~$3,104 (down daily | +2% on week)
· Market Cap: ~$3.15T (-0.8%)
· Dominance: BTC near 57%
While Bitcoin saw mild pressure, Ether showed relative weekly strength. However, the broader altcoin space remained under pressure—Solana (SOL), XRP, Dogecoin (DOGE), and Cardano (ADA) all posted declines, extending double-digit monthly losses for many.
Why the Pause?
Trading volumes were thin(~$89B), typical for Sunday, but the hesitancy also reflects anticipation of major macro catalysts ahead:
1. U.S. Data Flood: November inflation (CPI), unemployment figures, PMI data, and multiple Fed speeches will be scrutinized for clues on the interest rate path.
2. Bank of Japan Decision: The BOJ is widely expected to raise rates this Thursday. While rates would remain low globally, the shift could affect yen-funded carry trades—a source of liquidity that has long supported risk assets, including crypto.
Technical Watch:
Analyst Ali Martinez highlighted$86,000 as a critical BTC support level to hold. A break below could invite a deeper pullback.
What This Means:
Markets are range-bound,lacking conviction until clearer signals emerge from this week’s events. Bitcoin dominance holding near 57% suggests investors remain selective, favoring the largest crypto amid uncertainty.
Stay tuned—volatility could pick up as data unfolds.
#Bitcoin #BTC #CryptoMarket #Altcoins #Trading #BinanceSquare #Macro #FederalReserve #BOJ #Ethereum #ETH #Cryptocurrency #Investing #MarketUpdate
