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Bitcoin: rises to $87,000 after a drop; ETF outflows continue
Bitcoin rose moderately on Monday after a difficult week but remained under pressure due to increased redemptions by institutional investors and uncertainty surrounding the Federal Reserve’s policy ahead of December.
The world’s largest cryptocurrency gained 1.4%, reaching $87,050.5 as of 05:25GMT.
Last week, Bitcoin fell more than 10% to seven-month lows near $80,000.
Bitcoin-ETF outflows continue
Over the past 24 hours, the price fell to $88,610.4 before recovering above $90,000.
Data showed that U.S.-listed spot Bitcoin ETFs saw another round of outflows, extending their losing streak to four consecutive weeks. According to SoSoValue, net outflows for the week ending November 21 totaled $1.22 billion, bringing the four-week cumulative outflow to about $4.34 billion.
At the same time, these ETFs posted record trading volumes during the same period — a sign of “institutional capitulation,” analysts said. Trading volume in U.S. spot Bitcoin ETFs exceeded $40 billion last week.
Fed uncertainty persists despite expectations of policy easing
Macroeconomic uncertainty is adding pressure to cryptocurrencies. Market pricing now suggests about a 70% probability of a Fed rate cut in December — up sharply from roughly 44% just a week ago.
However, despite the jump in expectations, many Fed officials remain divided and cautious, warning that inflation is still persistent and the labor market remains strong.
Without a fresh catalyst, the crypto market may stay under pressure in the short term.
Uncertainty was further aggravated by the recent U.S. federal government shutdown, which delayed the release of key economic data. The absence of data has left markets “flying blind,” heightening doubts about how much easing is already priced in.
Investors are now awaiting important reports such as retail sales data and producer price indexes, scheduled for release later this week.
Cryptocurrencies today: altcoins rise slightly after a week of decline
Most altcoins rose on Monday after a sharp weekly drop but remained range-bound amid cautious sentiment.
- Ethereum increased by 1.2% to $2,842.88.
- XRP gained 1.7% to $2.07.
- Solana rose 1.8%, Cardano gained 0.8%, while Polygon fell 0.6%.
- Among meme tokens, Dogecoin climbed more than 2%.
See also: "Miners have increased coin sales, and pressure on the BTC market is rising"
