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Bitcoin extended its recent pullback on Tuesday, pressured by fragile risk sentiment ahead of major U.S. economic releases and continued weakness across global technology stocks.
The world’s largest cryptocurrency fell about 4% to $85,987.9 by 00:35 ET (05:35 GMT), hovering near a two-week low and close to levels last seen during the late-November selloff.
Risk-off tone deepens as traders wait for payrolls and CPI
Crypto markets struggled to find support even after the Federal Reserve’s latest rate cut and generally dovish messaging. Instead, positioning remained defensive as investors waited for data that could reshape the interest-rate outlook:
- U.S. nonfarm payrolls (November) due Tuesday
- U.S. CPI inflation (November) due Thursday
With the Fed heavily focused on labour-market conditions and inflation trends, any downside surprise in jobs or further cooling in CPI could revive expectations for lower rates—typically a supportive backdrop for higher-beta assets like crypto.
Tech weakness spills into crypto
Bitcoin’s slide also mirrored an extended downturn in global tech stocks, as investors locked in profits amid renewed questions around AI spending, valuations, and payback periods. The resulting “risk-off” tone reduced appetite for speculative exposure, hitting crypto alongside other high-volatility assets.
Liquidity support isn’t offsetting near-term caution
While markets have noted the Fed’s move to purchase short-dated Treasuries—seen as a liquidity-positive signal—the near-term driver remains macro uncertainty. Traders are largely waiting for confirmation from official data before re-engaging meaningfully, leaving Bitcoin vulnerable to further volatility around the releases.
Altcoins fall in tandem
Losses broadened across major tokens as the market de-risked:
- Ethereum: -6.33% to $2,922.06
- XRP: -~6% to $1.8817
- Solana: -4.2%
- Cardano: -5.7%
- BNB: -3.7%
- Dogecoin: -5.7%
- $TRUMP: -4.2%
Several large-cap altcoins remained near multi-month lows, reflecting persistent selling pressure and a cautious macro backdrop.
