Bitcoin Slips Below $90,000 as Markets Turn Cautious Ahead of Key U.S. Data and Central Bank Decisions

Bitcoin edged lower on Monday, slipping back below the $90,000 mark as investors adopted a cautious, wait-and-see stance ahead of a busy week packed with economic data and major central bank policy decisions.

The world’s largest cryptocurrency was last trading 0.4% lower at $89,768.6 by 01:54 ET (06:54 GMT), remaining locked in the narrow range that has defined recent sessions.

Bitcoin Range-Bound as Risk Appetite Fades
Bitcoin has struggled to build momentum in recent days, with subdued risk appetite limiting fresh inflows into digital assets. Traders appear reluctant to take decisive positions ahead of several U.S. economic releases that could influence expectations for interest rates and liquidity conditions.

Markets are closely watching upcoming U.S. employment data, weekly jobless claims, and November inflation figures, alongside flash PMI readings for December. Together, these indicators are expected to offer clearer signals on the health of the U.S. economy and the Federal Reserve’s policy outlook.

In addition, speeches this week from Federal Reserve Governors Stephen Miran and Christopher Waller are likely to be scrutinized for any guidance on the future path of interest rates.

Central Bank Meetings Weigh on Sentiment
Beyond the Fed, a cluster of central bank meetings has added to investor caution. Policy decisions from the Bank of Japan, the Bank of England, and the European Central Bank are all due this week, with markets assessing how each could affect global liquidity — a critical driver for cryptocurrencies.

As a result, Bitcoin’s recent price action has been characterized by low volatility and narrow trading ranges, mirroring the broader hesitancy seen across global risk assets.

HashKey IPO Highlights Institutional Interest
In corporate developments, Bloomberg reported that HashKey Holdings Ltd — operator of Hong Kong’s largest licensed cryptocurrency exchange — raised HK$1.6 billion ($206 million) in its initial public offering. The company priced 240.6 million shares at HK$6.68, near the top of its marketed range, with demand reportedly exceeding supply by several times.

Altcoins Trade Mixed in Risk-Off Environment
Altcoins showed mixed performance amid the cautious mood. Ethereum rose 1% to $3,141.92, while XRP slipped 0.6% to $2.00. Solana edged slightly lower, and Cardano and Polygon traded largely unchanged. Meme tokens such as Dogecoin and $TRUMP also eased by around 0.5%.

With multiple macro catalysts approaching, traders are likely to remain defensive in the near term, keeping Bitcoin and the broader crypto market confined to tight ranges until clearer signals emerge.