Bitcoin recorded a modest decline during today’s trading session, slipping below the $90,000 level amid a cautious market tone and a pullback in risk appetite, as investors await the release of a series of key U.S. economic data in the coming period.
The pullback comes as traders adopt a wait-and-see approach ahead of major U.S. releases expected to play a central role in shaping interest rate expectations. These include labor market indicators, jobless claims, inflation data, as well as preliminary readings for manufacturing and services activity, which are likely to offer clearer signals on the strength of the U.S. economy.
Market attention is also focused on upcoming comments from several Federal Reserve officials, with investors looking for any hints regarding monetary policy and the future path of interest rates, at a time when markets are increasingly sensitive to fresh policy signals.
This cautious backdrop coincides with meetings of several major central banks worldwide, including the Bank of Japan, the Bank of England, and the European Central Bank. These events have added pressure on higher risk assets, given their potential impact on global liquidity, a key driver of movements in the cryptocurrency market.
Bitcoin’s recent price action reflects a period of consolidation within narrow trading ranges and fading momentum, in line with broader caution across financial markets. Similarly, most alternative cryptocurrencies posted muted performance, trading in tight ranges as risk aversion prevailed, with modest gains in some tokens offset by limited declines in others, leaving the market without a clear directional trend.
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