Bitcoin remains range-bound below $90,000, trading around $87,039 as traders weigh near-term catalysts. The token briefly rebounded but faced selling pressure from profit-taking and liquidity constraints, limiting any upside move. The move leaves Bitcoin down about 0.6% from the previous session.
Ethereum stood near $2,931, down roughly 0.1% and failing to reclaim the $3,000 level. Altcoins broadly weakened, with BNB around $852 and XRP at $1.85, while SOL traded near $123. Tether held at $1.00 as market participants awaited clearer catalysts.
Market sentiment remains cautious as expectations for further Fed rate cuts have been supportive of risk assets, but actual buying momentum is subdued. Trading is quiet in Asia’s overnight session, with rallies quickly capped by profit-taking. Fortunes among Bitcoin miners and ETF flows added to the cautious tone, as the sector faces continued headwinds from outflows and stockpiled supply.
Some analysts argue the current trend is not solely a short-term decline, noting Bitcoin is transitioning toward a more institutional asset and may move with measured pace. Near-term price action is expected to stay within an $80,000 to $100,000 range.
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