Bitcoin (COIN:BTCUSD) inched higher on Monday, staging a mild recovery after a bruising week marked by accelerating institutional withdrawals and renewed uncertainty surrounding the Federal Reserve’s policy path into December.
By 01:25 ET (06:25 GMT), the leading cryptocurrency was up 1.4% at $87,050.5, still well below the territory it traded in earlier this month. Bitcoin tumbled more than 10% last week, sliding to seven-month lows just above $80,000.
ETF Outflows Continue to Pressure Prices
Over the past 24 hours, Bitcoin briefly dipped to $88,610.4 before clawing its way back above the $90,000 threshold. The move came as U.S.-listed spot Bitcoin ETFs logged yet another round of withdrawals, extending a four-week streak of net redemptions.
According to SoSoValue, spot Bitcoin ETFs saw $1.22 billion in outflows during the week ending Nov. 21, bringing the rolling four-week total to about $4.34 billion.
Despite the persistent selling, trading activity surged. Volumes across U.S. spot Bitcoin ETFs topped $40 billion last week, a spike analysts interpret as a sign of intensifying institutional capitulation.
Fed Outlook Still Murky Despite Rising Rate-Cut Bets
Cryptocurrencies remain sensitive to shifting macro expectations. Market pricing now implies roughly a 70% chance of a Fed rate cut in December—up from about 44% a week earlier.
Even so, policymakers have continued to strike a cautious tone. Many officials warn that sticky inflation and a still-resilient labor market make a near-term policy pivot far from certain.
Traders are also digesting the fallout from the recent U.S. government shutdown, which delayed key economic releases and left markets operating with less clarity than usual. Upcoming retail-sales and producer-price figures—due later this week—are expected to be pivotal for rate expectations and overall risk appetite.
Altcoins See Slight Lift but Remain Capped
Altcoins posted modest gains on Monday after enduring steep declines last week, though trading sentiment remained guarded.
- Ethereum rose 1.2% to $2,842.88
- XRP gained 1.7% to $2.07
- Solana advanced 1.8%
- Cardano edged up 0.8%
- Polygon slipped 0.6%
Among meme tokens, Dogecoin climbed more than 2%.
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