Bitcoin dipped below $90,000 on Sunday as low liquidity, altcoin weakness, and an upcoming slate of U.S. and global economic data kept traders cautious.

BTC $86,872.95 briefly slipped under $90,000 during quiet trading, with investors showing limited risk appetite ahead of a busy week for macroeconomic releases and central bank announcements. As of 12:40 p.m. UTC, bitcoin was trading near $89,600, down roughly 0.9% over the past 24 hours, slightly higher on the week, and about 7.6% lower over the past month. Ether (ETH) $3,000.85 traded near $3,104, down on the day but outperforming bitcoin over the week with a gain of more than 2%.

Altcoins continued to lag, with Solana, XRP, Dogecoin, and Cardano (ADA) all posting declines and maintaining double-digit losses over the past month. The CoinDesk 20 Index (CD20) fell almost 1%, reflecting persistent weakness across major digital assets. Total crypto market capitalization stood at roughly $3.15 trillion, down 0.8% over 24 hours, while trading volumes of around $89 billion reflected thin Sunday liquidity. Bitcoin dominance hovered near 57%, signaling investor preference for the largest cryptocurrency amid selective risk-taking.

Analysts warned that bitcoin’s consolidation could deepen if key support levels fail. Crypto strategist Ali Martinez noted on X that $86,000 remains a critical level, and a break below it could trigger a further pullback.

Markets are bracing ahead of a dense macro calendar. In the U.S., traders will monitor employment reports, including the unemployment rate, ADP employment data, and weekly jobless claims, along with November inflation figures, December flash PMI readings, and speeches from Federal Reserve Governors Stephen Miran and Christopher J. Waller for insight into interest rate policy.

Global attention also remains on Japan, where the Bank of Japan is expected to raise rates at its Thursday meeting. Reuters reported that markets have largely priced in a hike to 0.75% after Governor Kazuo Ueda noted inflation has stayed above the 2% target for more than three years. While borrowing costs would remain low by global standards, expectations of tighter policy have spotlighted potential impacts on yen-funded carry trades—a source of liquidity supporting global risk assets, including cryptocurrencies.

For now, crypto markets remain range-bound, with muted volumes and limited conviction as traders await clearer signals from upcoming U.S. data and central bank decisions.