Bitcoin fell below $90,000 on Sunday in quiet trading as investors showed limited risk appetite ahead of a busy week of economic data and central bank events.
The major cryptocurrency was trading around $89,600 as of early afternoon UTC, down about 0.9% in 24 hours, marginally higher on the week and still down about 7.6% over the past month. Ether changed hands near $3,104, down on the day but up more than 2% over the past seven days, outperforming bitcoin on a weekly basis.
Across the broader market, price developments remained subdued. Solana, XRP, dogecoin and Cardano’s ADA all fell and continued to post double-digit losses over the past month, underscoring continued weakness across major altcoins. The CoinDesk 20 Index (CD20) fell nearly 1%.
Total cryptocurrency market capitalization was nearly $3.15 trillion, down about 0.8% over 24 hours, with trading volumes around $89 billion, reflecting the thin liquidity typical of Sundays. Bitcoin dominance hovered near 57%, highlighting continued concentration in the largest digital asset as investors remain selective.
Some analysts warned that bitcoin’s consolidation could turn lower if key technical levels fail. Crypto analyst Ali Martinez said earlier on Sunday on X that $86,000 remains an important level for bitcoin to hold, noting that a deeper pullback could come into play if that support gives way.
Markets appear to be pausing ahead of a tight macroeconomic calendar in the coming days. In the US, investors will watch a range of employment indicators, including the unemployment rate, ADP employment data and weekly jobless claims, along with inflation data from November, flash PMI readings from December and speeches from Federal Reserve Governors Stephen Miran and Christopher J. Waller for clues on the path of interest rates.
Macro-sensitive traders are also closely watching developments in Japan, where the Bank of Japan (BOJ) is widely expected to raise interest rates at its upcoming policy meeting on Thursday. According to a Reuters report published on Friday, markets have largely priced in a move that would raise interest rates to 0.75% after Governor Kazuo Ueda signaled that inflation has remained above the central bank’s 2% target for more than three years.
While Japanese borrowing costs would remain low by global standards even after such a move, the report noted that the BOJ is likely to stress that monetary conditions will remain accommodative and that future rate hikes will depend on how the economy responds to each increase. Still, expectations of tighter policy have drawn attention to the potential impact on yen-financed carry trades, a source of liquidity that has supported global risk assets, including cryptocurrencies.
For now, crypto markets remain range-bound, with muted volumes and limited conviction as traders await clearer signals from upcoming US data and central bank decisions.
