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Bitcoin rises slightly to $87K after sharp selloff
Bitcoin edged higher on Tuesday after a sharp selloff during the previous session that pushed the world’s largest cryptocurrency below $84,000, as a fresh wave of risk aversion hit digital assets at the start of December.
The drop caught traders off guard, occurring just days after Bitcoin had recovered from levels near $80,000 late last week.
The world’s largest cryptocurrency was last trading 0.6% higher, at $87,087.6 as of 09:58 MSK. On Monday, it fell more than 7% to below $84,000.
Bitcoin falls in early December amid new panic
Monday’s drop was the latest continuation of the downtrend that dominated November, when Bitcoin recorded its worst monthly performance in more than four years, while spot Bitcoin ETFs saw significant outflows.
Sentiment continued to weigh on crypto markets, reinforcing concerns that institutional demand remains unstable. Reports indicated that rapid accumulation of whale inflows to major exchanges, along with algorithmic selling, helped accelerate the decline.
The slight stabilization of the token on Tuesday did little to ease fears about overall market weakness. A Coindesk report noted that Bitcoin could test the $60,000–$65,000 range if the decline continues.
The shift toward risk aversion was driven by a combination of profit-taking, low liquidity, and caution ahead of several macroeconomic triggers this month.
Expectations for a rate cut by the Federal Reserve at next week’s meeting have risen to nearly 90%, boosting hopes for looser financial conditions, but uncertainty about the timing and scale of future policy easing continues to add volatility to crypto markets.
Investors are also watching developments in Washington, where President Donald Trump is expected to decide on a successor to Federal Reserve Chair Jerome Powell.
Strategy lowers earnings outlook amid Bitcoin decline
Shares of Strategy Inc (NASDAQ:MSTR) plunged on Monday after the company cut its annual forecast, warning that the deepening Bitcoin selloff and ongoing crypto-market volatility had severely weakened its profit outlook.
Other crypto-linked stocks also fell on Monday.
Coinbase (NASDAQ:COIN) dropped about 5%, and Robinhood (NASDAQ:HOOD) fell more than 4%.
Cryptocurrencies today: altcoins muted
Most altcoins traded in a narrow range on Monday amid cautious sentiment.
- Ethereum slipped 0.3% to $2,814.92.
- XRP declined 1.1% to $2.02.
- Solana saw a slight gain.
- Cardano rose 2%.
- Polygon dropped 3.5%.
Among meme tokens, Dogecoin and $TRUMP fell 0.6%.
See also: "XRP Cryptocurrency Drops 10% in Bearish Trading With Pullback"
