Bitcoin edged lower on Monday, trading beneath the $90,000 mark, as muted risk appetite and a wait-and-see approach dominated ahead of a busy week of economic data and central bank announcements.
The world’s largest cryptocurrency was down 0.4% at $89,768.6 as of 09:54 Moscow time.
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Bitcoin remains range-bound before key US data
Bitcoin has struggled to establish a direction in recent sessions as investors hesitate to take fresh positions before a cluster of crucial US releases expected to influence interest rate expectations.
Markets await forthcoming employment figures, weekly jobless claims, and November inflation metrics, along with preliminary December PMI data, for insights into US economic strength.
Speeches from Fed governors Stephen Miran and Christopher J. Waller will also be scrutinized for signals on how policymakers assess the rate outlook.
Central bank meetings this week have also tempered sentiment for risk assets. Decisions from the Bank of Japan, Bank of England, and European Central Bank are also due this week.
Their pronouncements are anticipated to affect global liquidity conditions, which remain a key driver for digital assets.
Recent Bitcoin price action has featured tight trading bands and low momentum, mirroring broader caution across financial markets.
HashKey Holdings Ltd, operator of Hong Kong’s largest licensed crypto exchange, raised HK$1.6 billion ($206 million) after pricing its initial public offering near the top of its marketing range, Bloomberg reported on Monday.
The company sold 240.6 million shares at HK$6.68 apiece, close to the high end of the HK$5.95–HK$6.95 bracket, according to people familiar with the matter cited by Bloomberg.
Investor demand multiple times outstripped the available supply of shares, the report added.
Crypto prices today: Altcoins subdued amid cautious sentiment
Most altcoins were also subdued on Monday, moving in narrow channels amid the broader risk-off mood.
The world’s second-largest cryptocurrency, Ethereum, posted a 1% gain to $3,141.92.
The third-largest crypto, XRP, dipped 0.6% to $2.00.
Solana slightly declined, while Cardano and Polygon traded nearly flat.
Among meme tokens, both Dogecoin and $TRUMP fell by 0.5%.
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