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Bitcoin price today: falls to $87,000 amid ETF outflows
Bitcoin fell to the $87,000 level on Wednesday after another failed attempt to hold above $90,000, as low year-end liquidity and continued outflows from U.S. exchange-traded funds weighed on market sentiment.
The world’s largest cryptocurrency was trading down 0.7% at $86,966.6 as of 07:19 GMT.
Bitcoin under pressure from ETF outflows
Bitcoin failed to find momentum at the start of the Asian session, continuing the subdued performance seen over recent days.
The lack of upside follow-through reflects reduced liquidity ahead of the Christmas holidays, as many market participants step back from active trading after bitcoin was repeatedly rejected near the closely watched $90,000 resistance level.
Additional pressure came from persistent ETF outflows. Data from crypto analytics firm SoSoValue showed that U.S. spot bitcoin ETFs recorded net outflows of nearly $500 million over the past week, signaling waning institutional demand after strong inflows earlier in the year.
Fed rate cut expectations persist despite strong U.S. Q3 GDP
The broader market backdrop for bitcoin was mixed. U.S. equities surged in the previous session, with the S&P 500 posting a record close amid strong gains in technology stocks and data showing the U.S. economy expanded at a solid annualized pace of 4.3% in the third quarter.
At the same time, traditional safe-haven assets outperformed expectations: gold and silver reached record highs as investors sought protection amid geopolitical uncertainty and expectations of looser monetary policy.
Bitcoin, often touted as a hedge against inflation and financial instability, failed to benefit from either the equity rally or the rise in precious metals.
Nevertheless, expectations of U.S. monetary easing remain broadly supportive. Despite strong GDP data, markets continue to price in interest rate cuts by the Federal Reserve in 2026, betting that inflationary pressures will continue to ease over the medium term.
Lower interest rates typically support risk assets by reducing the opportunity cost of holding non-yielding investments. Earlier this year, bitcoin rose on hopes of a dovish Fed stance.
Cryptocurrency prices today: altcoins continue muted trading
Most altcoins traded slightly lower, extending the subdued trend of recent days.
Ethereum, the second-largest cryptocurrency, fell 1% to $2,934.92.
XRP, the third-largest cryptocurrency, dropped 1.6% to $1.85.
Solana and Cardano each declined by 2%, while Polygon fell 1%.
Among meme tokens, Dogecoin lost 2.3%, while $TRUMP slipped 1%.
See also: "Bitcoin ends the year with its worst quarter since 2018 — CoinGlass"
