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Bitcoin edged slightly higher on Tuesday, stabilizing after a sharp selloff at the start of December that dragged the world’s largest cryptocurrency below the $84,000 mark.
By 01:58 ET (06:58 GMT), Bitcoin was up 0.6% at $87,087.6, after dropping more than 7% on Monday and briefly trading under $84,000. The move came just days after the token had rebounded from levels near $80,000 late last week, catching many traders off guard.
Steep December Drop Follows Brutal November
Monday’s decline extended a downtrend that dominated November, when Bitcoin logged its worst monthly performance in more than four years and spot Bitcoin ETFs saw significant outflows.
The heavy selling has reinforced concerns that institutional demand remains fragile, with reports pointing to a rapid build-up of whale inflows to major exchanges and algorithmic selling helping accelerate the plunge.
While Tuesday’s tepid bounce offered some short-term relief, it did little to dispel fears over broader market weakness. A CoinDesk report suggested Bitcoin could retest the $60,000–$65,000 range if selling pressure resumes.
Macro Jitters and Fed Uncertainty Keep Volatility High
The latest risk-off move reflects a mix of profit-taking, thin liquidity, and caution ahead of several macro triggers this month.
Markets now see nearly a 90% chance that the Federal Reserve will cut rates at next week’s meeting, raising hopes for looser financial conditions. Still, uncertainty over the pace and depth of future easing continues to inject volatility into crypto markets.
Investors are also watching developments in Washington, where President Donald Trump is expected to choose a successor to Fed Chair Jerome Powell — a decision that could shape the medium-term path for U.S. monetary policy and, by extension, risk assets like Bitcoin.
Strategy Inc Slashes Guidance as Crypto Slide Hits Earnings
Shares of Strategy Inc (NASDAQ:MSTR) fell sharply on Monday after the firm cut its full-year earnings guidance, warning that the deepening Bitcoin selloff and ongoing crypto volatility had significantly weakened its earnings outlook.
Other crypto-linked stocks also retreated:
- Coinbase (COIN) fell about 5%
- Robinhood (HOOD) slid more than 4%
Altcoins Trade Mixed in Cautious Session
Most major altcoins moved in tight ranges amid the cautious mood:
- Ethereum (ETH) edged 0.3% lower to $2,814.92
- XRP fell 1.1% to $2.02
- Solana traded slightly higher
- Cardano gained 2%
- Polygon dropped 3.5%
Among meme tokens, Dogecoin and $TRUMP both dipped around 0.6%.
