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Bitcoin price today: falls below $88,000
Bitcoin fell on Tuesday, snapping a recent rebound, as traders largely remained cautious toward cryptocurrencies, while anticipation of key U.S. economic data boosted risk-averse sentiment.
Bitcoin declined 1.1% to $87,815.3 as of 05:57 GMT. The world’s largest cryptocurrency had rebounded to $90,000 earlier this week before retreating again on Tuesday.
Broader cryptocurrency prices also pulled back from a brief recovery, although overall losses were limited due to low trading volumes amid year-end holidays.
Bitcoin recovery stalls ahead of U.S. data
Bitcoin’s recent recovery was partly hampered by caution ahead of key U.S. economic indicators due to be released later on Tuesday.
Gross domestic product data for the third quarter are expected to show slightly slower growth compared to the previous quarter, particularly as retail spending fluctuated and the labor market cooled.
Data for the personal consumption expenditures price index for October — the Federal Reserve’s preferred inflation gauge — are also expected.
Any signs of further cooling in the U.S. economy, especially with regard to inflation, are likely to open the door for additional interest rate cuts by the Fed.
However, analysts warned that economic data for December and the fourth quarter are likely to provide a clearer picture of the U.S. economy, as October and November figures were likely distorted by a prolonged government shutdown.
Strategy halts bitcoin purchases, boosts cash reserves
Michael Saylor’s Strategy Inc (NASDAQ:MSTR), the world’s largest corporate holder of bitcoin, has paused cryptocurrency purchases in recent weeks and increased its cash reserves, seemingly preparing for a cooling in crypto prices.
Strategy said in a statement that it raised $748 million in the week to December 21 and did not buy bitcoin. Earlier in December, the company bought about $2 billion worth of bitcoin, bringing its total holdings to 671,268 bitcoins.
The company’s shares have fallen in recent months amid growing concerns over the long-term viability of its bitcoin strategy.
Earlier in December, Strategy reportedly set aside a $1.4 billion reserve for future dividend and interest payments on its numerous capital obligations, as a prolonged drop in bitcoin prices raised fears that the company could be forced to sell some assets to meet its obligations.
Strategy’s common shares have roughly halved in value in 2025, while the company’s recent removal from the key MSCI index has also added pressure on the stock.
Crypto prices today: altcoins fall alongside bitcoin
Broader cryptocurrency prices halted their recent recovery and fell in tandem with bitcoin.
The world’s second-largest cryptocurrency, Ether, fell 1.8% to $2,970.31. BNB slipped 1% to $850.50, while XRP dropped 1.8% to $1.8829.
Solana and Cardano declined by 0.8% and 0.2%, respectively. Among meme coins, DOGE fell 0.5%, while $TRUMP lost 2.1%.
See also: "Bitcoin ends the year with its worst quarter since 2018 — CoinGlass"
