Bitcoin settled around $89,576, down 0.78% on the day and about 6.18% for the week, as a string of strong U.S. economic reports dampened expectations for early rate cuts. The broader market followed, with total capitalization down about 0.22% to roughly $3.2 trillion and the CMC20 index easing 1.24% to 187.82. Bitcoin’s dominance rose slightly to about 59.2%, signaling a relative edge but not a full-scale market rebound. The fear-and-greed index slid to 34, while the RSI hovered near 42.4, pointing to further downside risk.
Altcoins initially rallied but largely gave back gains, pulling the broader market lower. Ethereum traded as high as $2,965 before slipping to $2,946, a 3.49% intraday drop and roughly a 10.5% weekly decline. Bitcoin dominance staying high indicates limited upside momentum for altcoins. Binance Coin hovered around $887, XRP traded near $1.93 after a 2.4% decline.
SOL slipped 1.85% and DOGE traded around $0.12. ADA fell 1.39%, while TRX rose about 1.82%. On the macro front, BEA raised its Q3 GDP growth to 4.4% and forecast Q4 growth likely to exceed 5%. The November PCE price index rose 2.8% year over year, in line with expectations.
CME FedWatch shows a 95% probability of a rate hold at the upcoming meeting on the 28th. Market watchers say the odds of an imminent Fed rate cut diminished. Galaxy Digital’s Michael Novogratz cautioned that unless Bitcoin clears the 100,000–100,300 resistance zone, a structural rebound will be elusive and markets may remain in a corrective phase. Investors were advised to stay cautious until the February employment data and CPI release.
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