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Bitcoin Hovers Below $90K as Traders Brace for Key Economic Data This Week

MarketDash Editorial Team
6 hours ago
Bitcoin slipped below $90,000 Monday morning as investors pull back ahead of crucial jobs and inflation reports due this week. The cryptocurrency faces critical resistance that could determine whether it pushes toward $100K or retreats further.

Bitcoin (BTC) is treading water below the $90,000 mark Monday morning, and it's not hard to see why. With a packed calendar of macro events this week—think jobs numbers and inflation data—investors are dialing back their appetite for risk. It's the classic "wait and see" moment, and crypto traders are no exception.

ETF flows tell part of the story. Bitcoin ETFs pulled in $49.2 million in net inflows on Friday, a decent showing. Ethereum ETFs, on the other hand, saw $19.4 million head for the exits. Mixed signals all around.

The $90,000 Question: Break Through or Break Down?

Crypto analyst Michael van de Poppe observed that Bitcoin swept Sunday's lows before bouncing back quickly. It closed the CME gap and is now consolidating right at a crucial resistance level near $90,000. Think of this as the market catching its breath before the next big move.

Here's where it gets interesting: if Bitcoin can cleanly break above $90,000, van de Poppe expects a rapid climb toward $92,000–$94,000, which would significantly increase the odds of a push all the way to $100,000. But if it can't reclaim that level? We could be looking at a deeper pullback. This week is make-or-break territory for directional clarity.

Crypto trader Jelle added another wrinkle: Bitcoin is trading sideways around the monthly open and has printed a fresh local lower low. That's putting pressure on the bulls and making the technical setup more fragile than it was last week.

Ethereum Shows Some Muscle

While Bitcoin fidgets nervously, Ethereum (ETH) is putting on a better show. Jelle highlighted that Ethereum has reclaimed its key support zone, which is genuinely constructive from a technical standpoint. The chart structure looks healthier compared to Bitcoin right now.

The big number to watch? That would be $4,000. It remains the major resistance level to crack. If Ethereum can push above that, we could see it enter price discovery mode—uncharted territory where anything goes.

Altcoins Send Mixed Messages

Solana (SOL) is chopping around $130, according to Cold Blooded Shiller, with major support sitting at $125. The RSI has reset, which is mildly encouraging, but the monthly chart still flashes bearish divergence. If that $125 level breaks, the downside could get ugly fast, with limited support until much lower price levels.

Crypto chart analyst Ali Martinez pointed out that XRP (XRP) has printed a TD buy signal, but there's a catch—the entire setup hinges on holding $1.90. If that level holds firm, a move toward $2.50 becomes realistic. Lose it, and the signal loses its teeth.

As of Monday, here's where the major cryptocurrencies stand: Bitcoin at $89,839.10, Ethereum at $3,159.32, Solana at $132.54, and XRP at $1.99.

Meme Coins Take a Hit

The meme-coin sector didn't have a great day, sliding 2.5% even as the broader crypto market held relatively steady. Martinez noted that Dogecoin (DOGE) could find support near $0.10, with a deeper safety net around $0.062 if things get really rough.

Dogecoin is currently trading at $0.1370, while Shiba Inu (SHIB) sits at $0.00008186.

With critical economic data on the horizon and Bitcoin sitting at a technical crossroads, the next few days could set the tone for crypto markets heading into the rest of the month. Buckle up.

Back to News

Bitcoin Hovers Below $90K as Traders Brace for Key Economic Data This Week

MarketDash Editorial Team
6 hours ago
Bitcoin slipped below $90,000 Monday morning as investors pull back ahead of crucial jobs and inflation reports due this week. The cryptocurrency faces critical resistance that could determine whether it pushes toward $100K or retreats further.

Bitcoin (BTC) is treading water below the $90,000 mark Monday morning, and it's not hard to see why. With a packed calendar of macro events this week—think jobs numbers and inflation data—investors are dialing back their appetite for risk. It's the classic "wait and see" moment, and crypto traders are no exception.

ETF flows tell part of the story. Bitcoin ETFs pulled in $49.2 million in net inflows on Friday, a decent showing. Ethereum ETFs, on the other hand, saw $19.4 million head for the exits. Mixed signals all around.

The $90,000 Question: Break Through or Break Down?

Crypto analyst Michael van de Poppe observed that Bitcoin swept Sunday's lows before bouncing back quickly. It closed the CME gap and is now consolidating right at a crucial resistance level near $90,000. Think of this as the market catching its breath before the next big move.

Here's where it gets interesting: if Bitcoin can cleanly break above $90,000, van de Poppe expects a rapid climb toward $92,000–$94,000, which would significantly increase the odds of a push all the way to $100,000. But if it can't reclaim that level? We could be looking at a deeper pullback. This week is make-or-break territory for directional clarity.

Crypto trader Jelle added another wrinkle: Bitcoin is trading sideways around the monthly open and has printed a fresh local lower low. That's putting pressure on the bulls and making the technical setup more fragile than it was last week.

Ethereum Shows Some Muscle

While Bitcoin fidgets nervously, Ethereum (ETH) is putting on a better show. Jelle highlighted that Ethereum has reclaimed its key support zone, which is genuinely constructive from a technical standpoint. The chart structure looks healthier compared to Bitcoin right now.

The big number to watch? That would be $4,000. It remains the major resistance level to crack. If Ethereum can push above that, we could see it enter price discovery mode—uncharted territory where anything goes.

Altcoins Send Mixed Messages

Solana (SOL) is chopping around $130, according to Cold Blooded Shiller, with major support sitting at $125. The RSI has reset, which is mildly encouraging, but the monthly chart still flashes bearish divergence. If that $125 level breaks, the downside could get ugly fast, with limited support until much lower price levels.

Crypto chart analyst Ali Martinez pointed out that XRP (XRP) has printed a TD buy signal, but there's a catch—the entire setup hinges on holding $1.90. If that level holds firm, a move toward $2.50 becomes realistic. Lose it, and the signal loses its teeth.

As of Monday, here's where the major cryptocurrencies stand: Bitcoin at $89,839.10, Ethereum at $3,159.32, Solana at $132.54, and XRP at $1.99.

Meme Coins Take a Hit

The meme-coin sector didn't have a great day, sliding 2.5% even as the broader crypto market held relatively steady. Martinez noted that Dogecoin (DOGE) could find support near $0.10, with a deeper safety net around $0.062 if things get really rough.

Dogecoin is currently trading at $0.1370, while Shiba Inu (SHIB) sits at $0.00008186.

With critical economic data on the horizon and Bitcoin sitting at a technical crossroads, the next few days could set the tone for crypto markets heading into the rest of the month. Buckle up.

    Bitcoin Hovers Below $90K as Traders Brace for Key Economic Data This Week - MarketDash News