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Bitcoin Price Today: Stable at $86.5K Ahead of U.S. CPI Data
Bitcoin remained largely unchanged on Thursday, continuing to show restrained price action amid persistent outflows from exchange-traded funds and cautious positioning ahead of the release of key U.S. inflation data that could influence the outlook for Federal Reserve interest rates.
The world’s largest cryptocurrency was trading down 0.3% at $86,554.6 as of 07:55 GMT.
Bitcoin has failed to stage a decisive rebound above the $90,000 level following its sharp rise earlier this year, reflecting market consolidation rather than expansion.
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ETF Outflows and Fed Caution Weigh on Bitcoin
Investors continue to withdraw capital from U.S.-listed spot Bitcoin ETFs, extending a trend of net outflows that is undermining a key source of institutional demand.
Data from recent sessions show persistent ETF outflows, which market participants believe have stripped Bitcoin of the critical support that underpinned its rally earlier this year, increasing downward pressure on prices.
Market attention on Thursday is fully focused on U.S. consumer prices for November, with the release of the Consumer Price Index (CPI) expected shortly.
Economists anticipate that the inflation data will show a noticeable increase in annual core prices, potentially complicating the Federal Reserve’s discussions about future rate adjustments.
Earlier this week, delayed U.S. employment data revealed a mixed labor market picture. Nonfarm payrolls in November rebounded moderately after a sharp decline in October, but the unemployment rate rose to its highest level in several years.
These conflicting signals have made it harder to predict the Fed’s next steps and have tempered confidence in further policy easing.
President Donald Trump indicated that his preferred candidate for the next Federal Reserve chair would be someone who believes in significantly lower interest rates — comments that sparked debate over the central bank’s future direction.
Cryptocurrency Prices Today: Altcoins Slide, Cardano Loses 5%
Most altcoins fell on Thursday amid cautious sentiment, even as the original cryptocurrency remained stable.
The world’s second-largest cryptocurrency, Ethereum, fell 3.7% to $2,828.92.
The third-largest cryptocurrency, XRP, declined 4.7% to $1.83.
Solana dropped 4%, while Cardano and Polygon each fell 5%.
Among meme tokens, both Dogecoin and $TRUMP declined by 4%.
See also: "Solana Approaches the Apex of a Triangle, Breakout Risk Increases"
