{"id":179996,"date":"2025-12-12T01:59:10","date_gmt":"2025-12-12T01:59:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/179996\/"},"modified":"2025-12-12T01:59:10","modified_gmt":"2025-12-12T01:59:10","slug":"bitcoin-dips-below-90000-amid-weak-crypto-demand","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/179996\/","title":{"rendered":"Bitcoin dips below $90,000 amid weak crypto demand"},"content":{"rendered":"

Bitcoin veered back toward the lower portion of its recent trading range amid lingering concern about demand for risky assets.<\/p>\n

The original cryptocurrency dipped below $90,000 for the first time in two days, retreating as much as 3.4% on Thursday in New York. Bitcoin has traded in a loosely defined range of between $95,000 and $85,000 for the past month. Smaller tokens also retreated, with Ether shedding as much as 5.8% of its value.<\/p>\n

“The market is testing the strength of the modest uptrend that has been forming since 21 November,” Alex Kuptsikevich, chief market analyst at FxPro, said in a note on Thursday. “A drop below $88K would break this trend, bolster bearish sentiment and confirm the end of the recovery rally.” The crypto market is in a weakened position after enduring a weeks-long selloff that began in early October with a major liquidation event, which wiped out about $19 billion in levered bets. Asian equities tracked gains on Wall Street on Thursday morning after US Federal Reserve Chair Jerome Powell pushed through a quarter percentage point interest rate cut, but the move did little to lift the mood among crypto traders.
\"445784633\"Bloomberg
Anticipation of the rate cut helped lift the S&P500 0.7% in New York on Wednesday, posting its biggest gain on a Fed decision day since March and closing just shy of a record high. However, the index slid in early trading on Thursday on revived concerns of an AI bubble. “It’s a clear decoupling,” said Sean McNulty, APAC derivatives trading lead at FalconX, adding that $85,000 would be a “critical line in the sand.”
\"ETLive Events
Traders now face a mixed bag in terms of technical indicators as to where the market is heading next.
On Wednesday, US exchange-traded funds investing in Bitcoin saw a net inflow of $224 million, led by $193 million for BlackRock’s iShares Bitcoin Trust – its highest in 30 days. Strategy Inc., the Michael Saylor-led Bitcoin treasury company, acquired 10,624 tokens worth $962.7 million from Dec. 1 to Dec. 7, marking its largest acquisition since July.Yet the purchase from the largest corporate holder of Bitcoin failed to maintain the token\u2019s price above $94,000, \u201cconfirming that demand is being overwhelmed by structural selling,\u201d McNulty said.<\/p>\n

Perpetual futures contracts for Bitcoin, which account for the largest share of crypto trading volume, are showing a pessimistic tilt, with funding rates turning negative during Asia hours, meaning bearish traders are now paying bullish counterparts to maintain short positions, according to CryptoQuant data.<\/p>\n

\"445786535\"Bloomberg
While Bitcoin has rallied back from a \u201ccapitulation low\u201d of $80,537 in recent weeks, Tony Sycamore, analyst at IG Australia, said the token is at risk of \u201ca turn lower and for a retest and break\u201d of that level. <\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin veered back toward the lower portion of its recent trading range amid lingering concern about demand for…\n","protected":false},"author":2,"featured_media":179997,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[105111,105114,105112,105113,42,43,40,38,41,39,105115],"class_list":{"0":"post-179996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-bitcoin-price-drop","9":"tag-bitcoin-trading-range","10":"tag-cryptocurrency-market-news","11":"tag-ethereum-price-decline","12":"tag-headlines","13":"tag-news","14":"tag-top-news","15":"tag-top-stories","16":"tag-topnews","17":"tag-topstories","18":"tag-us-federal-reserve-interest-rate"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/179996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=179996"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/179996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/179997"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=179996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=179996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=179996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}