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15/12/25 03:00 UTC-04

Bitcoin Price: Drops Below $90,000 Amid Market Caution

Cryptocurrency Cryptocurrency
Cryptocurrency Bitcoin Price: Drops Below $90,000 Amid Market Caution

Bitcoin edged lower on Monday, trading below the $90,000 mark as subdued risk appetite and a wait-and-see stance dominated ahead of a busy week of economic data and central bank decisions.

The world’s largest cryptocurrency was trading 0.4% lower at $89,768.6 as of 06:54 GMT.

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Bitcoin Remains Rangebound Ahead of Key U.S. Data

Bitcoin has struggled to find direction in recent sessions, as investors have been reluctant to take on new positions ahead of a series of key U.S. releases expected to influence interest rate expectations.

Markets are awaiting upcoming employment data, weekly jobless claims, November inflation figures, and preliminary December PMI data to gauge the strength of the U.S. economy.

Speeches by Federal Reserve officials Steven Miran and Christopher J. Waller will also be closely watched for signals on how policymakers assess the outlook for interest rates.

Central bank meetings this week have also weighed on risk sentiment. Decisions from the Bank of Japan, the Bank of England, and the European Central Bank are also expected this week.

Their decisions are expected to influence global liquidity conditions, which remain a key driver for cryptocurrencies.

Recent Bitcoin price action has been characterized by narrow trading ranges and low momentum, reflecting broader caution across financial markets.

HashKey Raises $206 Million in Hong Kong IPO — Bloomberg

HashKey Holdings Ltd, operator of Hong Kong’s largest licensed cryptocurrency exchange, raised HK$1.6 billion ($206 million) after pricing its initial public offering near the top end of its marketing range, Bloomberg reported on Monday.

The company sold 240.6 million shares at HK$6.68 each, close to the upper end of the HK$5.95–6.95 range, according to people familiar with the matter cited by Bloomberg.

Investor demand was several times the available share supply, the report added.

Cryptocurrency Prices Today: Altcoins Muted Amid Cautious Sentiment

Most altcoins were also muted on Monday, moving in narrow ranges amid broader risk-averse sentiment.

The world’s second-largest cryptocurrency Ethereum rose 1% to $3,141.92.

The world’s third-largest cryptocurrency XRP fell 0.6% to $2.00.

Solana edged lower, while Cardano and Polygon traded largely unchanged.

Among meme tokens, both Dogecoin and $TRUMP fell 0.5%.

See also: "Zcash Price Forecast: A Break Above $485 Could Open a Rally Toward $620"

#Bitcoin (BTC) #Price drop

Editor: Yuliya Soroka
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