Bitcoin Dips Below $90K Again Amid Market Fear
Bitcoin drops to $87K as extreme fear grips the market ahead of key U.S. economic data.
- Bitcoin falls 1.8% to $87K after briefly reclaiming $90K
- Market sentiment drops to “Extreme Fear” on FGI scale
- $262M liquidated as traders brace for GDP and inflation data
Bitcoin’s price dropped again on December 23, falling by 1.8% to $87,409 after briefly reclaiming the $90,000 level. This dip comes just days before the release of critical U.S. economic indicators, including GDP and inflation data scheduled for December 23–24.
Ethereum also followed the broader market trend, declining by 2.3% to $2,961. The total crypto market cap now stands at $3.04 trillion, reflecting a cautious mood among investors as uncertainty builds.
Extreme Fear Dominates Crypto Sentiment
The Fear & Greed Index (FGI) has fallen to 24, firmly placing market sentiment in the “Extreme Fear” category. This sharp sentiment reversal shows that investors are becoming increasingly risk-averse.
After a short-lived rebound that saw Bitcoin reclaim the $90K mark, the recent downturn suggests traders are adjusting their positions ahead of potential economic shocks. The upcoming GDP and inflation data could impact Fed policy, which in turn affects market confidence in risk assets like crypto.
Massive Liquidations Reflect Market Stress
In just 24 hours, the crypto market witnessed $262 million in liquidations. This indicates that many leveraged positions were wiped out as prices dropped, reinforcing the current fear-driven environment.
With Bitcoin unable to hold the $90K level and key macroeconomic events just ahead, volatility is likely to remain high. Traders are now watching closely for cues from the U.S. economy that could sway market direction as 2025 approaches.
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