Bitcoin drifted below $90,000 on Sunday in a quiet session as investors showed limited risk appetite ahead of a busy week of economic data and central bank events.
The largest cryptocurrency was trading around $89,600 as of early afternoon UTC, down about 0.9% in 24 hours, slightly higher on the week and still down about 7.6% over the past month. Ether changed hands near $3,104, down on the day but up more than 2% over the past seven days, outperforming bitcoin on a weekly basis.
Across the market as a whole, price developments remained moderate. Solana, The CoinDesk 20 Index (CD20) fell almost 1%.
The total cryptocurrency market capitalization stood at nearly $3.15 trillion, down about 0.8% over 24 hours, with trading volumes around $89 billion, reflecting typical Sunday low liquidity. Bitcoin’s dominance hovered around 57%, highlighting the continued focus on the largest digital asset as investors remain selective.
Some analysts have warned that Bitcoin consolidation could decline if key technical levels fail. Cryptocurrency analyst Ali Martinez said earlier Sunday on
Markets appear to be taking a break in anticipation of a busy macroeconomic calendar in the coming days. In the United States, investors will be watching a range of employment indicators, including the unemployment rate, ADP employment data and weekly jobless claims, as well as November inflation data, December PMI flash numbers and speeches from Federal Reserve Governors Stephen Miran and Christopher J. Waller, for clues on interest rate developments.
Macro-sensitive traders are also closely monitoring developments in Japan, where the Bank of Japan (BOJ) is expected to raise interest rates at its next policy meeting on Thursday. According to a Reuters report on Friday, markets have largely priced in a move that would raise the rate to 0.75% after Governor Kazuo Ueda signaled that inflation had remained above the central bank’s 2% target for more than three years.
Although Japanese borrowing costs would remain low by global standards even after such a move, the report notes that the BOJ will likely emphasize that monetary conditions will remain accommodative and that future rate hikes will depend on how the economy responds to each increase. Still, expectations of tighter policy have drawn attention to the potential impact on carry trades financed by the yen, a source of liquidity that has supported global risk assets including cryptocurrencies.
For now, crypto markets remain range-bound, with moderate volumes and limited conviction as traders await clearer signals from upcoming US data and central bank decisions.
