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Crypto Cools: Bitcoin Dips Below $90K Amidst Economic Data Wait
16 Dec
Summary
- Bitcoin fell below $90,000 as traders awaited key economic indicators.
- Ether outperformed Bitcoin over the past week, showing a slight gain.
- Markets anticipate potential Bank of Japan interest rate hikes this week.
Bitcoin experienced a slight downturn, trading below $90,000 as the broader cryptocurrency market showed limited risk appetite. Investors are adopting a wait-and-see approach ahead of significant economic data releases and central bank policy meetings scheduled for the upcoming week.
While Bitcoin saw minor losses, Ether demonstrated relative strength, outperforming the largest cryptocurrency over the past seven days. Major altcoins continued to struggle, reflecting persistent weakness in the wider market. Trading volumes remained thin, typical for a Sunday, with the total market capitalization seeing a small decrease.
The crypto landscape is poised for potential shifts influenced by upcoming U.S. employment and inflation data, as well as anticipated interest rate adjustments by the Bank of Japan. These macroeconomic events could provide clearer signals for market direction and impact liquidity for risk assets.
