Bitcoin edged slightly lower on Monday, trading below the $90,000 mark as investors stayed cautious amid subdued risk appetite and ahead of a busy week packed with economic data and major central bank decisions.
The world’s largest cryptocurrency was last down 0.6% at $88,595.0 as of 09:52 ET (14:52 GMT).
Bitcoin trades sideways ahead of key U.S. data
Bitcoin has remained range-bound in recent sessions, with traders reluctant to commit to new positions before a series of high-impact U.S. economic releases that could influence interest rate expectations.
Markets are awaiting employment figures, weekly jobless claims, and November inflation data, along with December flash PMI readings, to assess the strength of the U.S. economy.
Comments from Federal Reserve Governors Stephen Miran and Christopher J. Waller are also being closely watched for insight into policymakers’ views on the future path of interest rates.
A packed calendar of central bank meetings has added to caution across risk assets. Policy decisions from the Bank of Japan, the Bank of England, and the European Central Bank are all due this week.
These decisions are expected to play a key role in shaping global liquidity conditions, which remain an important driver for cryptocurrency prices.
Bitcoin’s recent price action has been defined by narrow trading ranges and low momentum, reflecting broader risk aversion across financial markets.
HashKey raises $206 million in Hong Kong IPO
HashKey Holdings Ltd, which operates Hong Kong’s largest licensed cryptocurrency exchange, raised HK$1.6 billion ($206 million) after pricing its initial public offering near the top of its marketed range, Bloomberg reported on Monday.
The company sold 240.6 million shares at HK$6.68 each, close to the upper end of a HK$5.95 to HK$6.95 range, according to people familiar with the deal.
Investor demand exceeded the number of shares available by several times, the report said.
UK to regulate crypto sector from 2027
Britain plans to bring cryptoassets under formal regulation starting in October 2027, the finance ministry said on Monday, aiming to provide regulatory clarity while keeping “dodgy actors” out of the market.
Legislation set to be introduced in parliament will place crypto-related firms under the existing financial regulatory framework. The approach aligns the UK more closely with the U.S. regulatory model rather than the European Union’s crypto-specific rules.
A draft version of the bill has seen only limited changes since it was first released earlier this year, according to a ministry spokesperson.
Finance minister Rachel Reeves said the new framework would establish “clear rules of the road,” improve consumer protection, and prevent bad actors from operating in the sector.
Altcoins remain subdued in risk-off markets
Most altcoins also traded quietly on Monday, moving within tight ranges amid a broader risk-off mood.
Ethereum, the second-largest cryptocurrency, was flat at $3,077.02.
XRP slipped 1.7% to $1.95.
Solana, Cardano, and Polygon posted marginal gains, while meme tokens including Dogecoin and $TRUMP were little changed.
