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Crypto Market Watch: BTC drops under 89,600 as bearish sentiment sweeps market

Crypto Market Updates
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More crypto assets saw losses than gains in the last 24 hours, the price chart showed on Monday, December 15. Bitcoin reflected a price dip of under one percent to trade at $89,560 at the time of writing. The asset is struggling to stabilise at this level. Amid continuous price fluctuations, the asset is flirting with the 89,900 mark.

Ether joined Bitcoin in seeing a small dip of under one percent over the last day. The asset is presently trading at $3,120, data by CoinMarketCap showed on Monday.

In conversation with Coin Headlines, analysts noted that the crypto market is in a consolidation phase with elevated volatility for the time being.

“Bitcoin is trading around the $88,000–92,000 range, acting as the primary market anchor, while Ethereum holds near $3,000–3,400, showing relative stability but weak momentum. Altcoins remain mixed, with strength mainly in AI, Layer-2, and RWA tokens, while high-beta assets lag,” said Sathvik Vishwanath, the co-founder and CEO of Unocoin.

BNB, XRP, Solana, Dogecoin, Cardano, Chainlink, Stellar, and Monero emerged among crypto assets that are trading in the losses on Monday. Zcash’s price sank by 4.15 percent over the last day dragging down its price to $406 – despite this, the asset’s seven-day price data shows a gain of 13.42 percent.

Among tokens that managed to hold onto minor profits, Tron and LEO marked their names with both having minted small profits of under one percent over the last day. Mantle, Aave, Canton, and Polygon also reflected miniscule profits on the price charts on Monday.

Analysts have said that the overall market sentiment is cautious due to macro uncertainty, interest-rate expectations, and regulatory pressure. After the Fed announced a 25 bps interest rate cut last week, expectations of another one early in 2026 are making the rounds. In Australia, meanwhile, an interest rate hike is expected as the country grapples with inflation. More clarity in the rate cut aspect seems to be at least a few weeks away for now.

The crypto market valuation presently sits atop the mark of $3.06 trillion after having slid by 0.33 percent in the last 24 hours. The score of 24 on the Fear and Greed Index indicates the prevailing sentiment of cautious fear among investors.

“Altcoins remain mixed, with strength mainly in AI, Layer-2, and RWA tokens, while high-beta assets lag. Trading volume is moderate, signaling indecision. Short-term bias is neutral to slightly bearish, but long-term outlook remains bullish, supported by institutional adoption, ETFs, and ongoing blockchain development,” Vishwanath noted.

Over 108.410 traders were liquidated in the last 24 hours with the total amount of liquidations having hit $288.9 million, data by CoinGlass shows. Out of this, $108.62 million were pulled from the BTC ecosystem.

Radhika Parashar is a Web3 and technology journalist with more than seven years of experience. Her professional background includes work at The Economic Times, Sputnik News, IANS, and NDTV Gadgets 360 before her current position at CoinHeadlines.

Coin Headlines covers the latest news in crypto, blockchain, Web3, and markets, bringing you credible and up-to-date information on all the latest developments from around the world.

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