Bitcoin price today slightly up at $87k.
Bitcoin edged higher on Tuesday after a steep selloff in the previous session that drove the world’s largest cryptocurrency below $84,000, as a renewed bout of risk aversion hit digital assets at the start of December.
The decline caught traders off guard, coming just days after Bitcoin had rebounded from levels near $80,000 late last week.
The world’s largest cryptocurrency last traded 0.6% higher at $87,087.6 by 01:58 ET (06:58 GMT). It fell more than 7% to below $84,000 on Monday.
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Bitcoin slides at Dec start amid fresh panic
Monday’s slide marked the latest extension of a downtrend that dominated November, when Bitcoin suffered its worst monthly performance in more than four years, and spot Bitcoin ETFs recorded heavy outflows.
The sentiment continued to weigh on crypto markets, reinforcing worries that institutional demand remains fragile. Reports showed that the rapid build-up of whale inflows to major exchanges, alongside algorithmic selling, helped accelerate the drop.
Asia FX flat despite Fed cut bets.
Most Asian currencies remained range‑bound on Tuesday despite rising expectations for a Federal Reserve rate cut next week, while the Indian rupee fell to fresh record lows amid sustained foreign outflow pressures.
The US Dollar Index, which measures the greenback against a basket of major currencies, was largely steady in Asia hours. US Dollar Index Futures also traded flat as of 05:54 GMT.
Global bond yields surge; Fed cut bets in focus
The muted regional response comes after global bond yields surged overnight, following hawkish signals from Bank of Japan (BOJ) Governor Kazuo Ueda.
Speaking over the weekend, Ueda suggested the central bank could consider raising rates as early as this month, lifting Japanese Government Bond yields to record highs.
Oil prices steady.
Oil prices held firm on Tuesday as traders weighed up risks from Ukrainian drone strikes on Russian energy sites, mounting U.S.-Venezuela tension and mixed expectations for U.S. fuel inventories.
Brent crude futures rose 7 cents, or 0.1%, to $63.24 a barrel by 0657 GMT. U.S. West Texas Intermediate crude gained 13 cents, or 0.2%, to stand at $59.45 a barrel.
Both benchmarks advanced more than 1% on Monday, while WTI was near a two-week high.
“Oil held gains as traders awaited President Trump’s moves on Venezuela and assessed Black Sea terminal damage,” Saxo analysts said in a note to clients.
On Monday, the Caspian Pipeline Consortium said it had resumed oil shipments from one mooring point at its Black Sea terminal following a major Ukrainian drone attack on November 29. Russia’s Kommersant newspaper, citing unnamed sources, on Monday said that oil loadings had resumed via the single point mooring 1 (SPM 1), while SPM 2 was damaged.
“The military action further supports our opinion that a peace deal is highly unlikely anytime soon and that the diesel/gasoil markets are on the cusp of pulling the complex back up,” analysts at Ritterbusch and Associates said in a note.
On the negotiation front, Ukrainian President Volodymyr Zelenskiy said on Monday that Kyiv’s priorities were to maintain sovereignty and ensure strong security guarantees, adding that territorial disputes remained the most complicated sticking point.
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