Bitcoin edges higher after steep weekly losses as ETF outflows persist

Bitcoin rose modestly on Monday after a bruising week, but the token remained under pressure from sustained institutional redemptions and ongoing uncertainty over Federal Reserve policy ahead of the December meeting.

The world’s largest cryptocurrency was last up 1.4% at $87,0505.5 by 01:25 ET (06:25 GMT), after slumping more than 10% last week to seven-month lows near $80,000.

Bitcoin ETF outflows continue

Bitcoin briefly dropped to $88,610.4 in the past 24 hours before rebounding back above the $90,000 mark.

Flows data showed that U.S.-listed spot bitcoin exchange-traded funds extended their losing streak, recording a fourth consecutive week of net outflows. According to SoSoValue, these products saw about $1.22 billion in redemptions in the week ended Nov. 21, taking cumulative four-week outflows to roughly $4.34 billion.

At the same time, trading activity in these vehicles surged to record levels, with turnover across U.S. spot bitcoin ETFs topping $40 billion last week. Analysts said the combination of heavy selling and strong volumes pointed to a phase of “institutional capitulation” in the market.

Fed uncertainty weighs despite easing bets

Macro uncertainty continues to cloud the outlook for cryptocurrencies. Market pricing now implies roughly a 70% probability of a Federal Reserve rate cut in December, up from about 44% just a week earlier.

However, despite the sharp rise in expectations, Fed officials have remained cautious and divided, repeatedly warning that inflation is still sticky and the labor market remains resilient. Without a clear policy signal or fresh bullish catalyst, the broader crypto market could stay under pressure in the near term.

Sentiment has been further dampened by the recent U.S. federal government shutdown, which delayed the release of several key economic indicators. The resulting data gap has left investors effectively “flying blind” on the true strength of the economy and on how much monetary easing is realistically priced in.

Traders are now looking ahead to upcoming macro releases, including retail sales and producer price index data due later this week, for clearer guidance.

Altcoins edge higher after weekly declines

Most major altcoins traded higher on Monday following sharp losses over the past week, although price action remained largely rangebound amid a cautious risk backdrop.

Ethereum, the second-largest cryptocurrency by market capitalization, rose 1.2% to $2,842.88. XRP, the third-largest token, gained 1.7% to $2.07.

Solana advanced 1.8%, while Cardano added 0.8%. Polygon underperformed, slipping 0.6%.

Among meme tokens, Dogecoin climbed more than 2%, offering a rare pocket of outperformance in an otherwise subdued market.