Investors await the Fed’s policy announcement. Rapid recovery to $100,000 seems unlikely. BTC futures premiums stayed below 5% over the past two weeks. Weak leveraged buying reflects the 28% decline since October’s all-time high.

Economic uncertainty limits investor confidence

A 43-day government funding gap in November delayed official employment and inflation data. Private employment reports showed 71,321 job cuts in November, providing limited optimism. Redfin data also indicated that 15% of home purchase agreements were canceled in October. High costs and uncertainty are increasing risk aversion among investors.

Leverage and options markets affect price

Bitcoin failed to reach $92,250 on Monday, dropping $2,650. This pullback accelerated after $92 million in leveraged BTC futures were liquidated. Put option premiums on Deribit reached 13%. Investors in China are exiting the crypto market as stablecoins trade below the official USD rate. This signals short-term downside risk.

• Key Takeaways:

• Slow spot ETF inflows limit upward momentum

• U.S. employment and housing data drive market confidence

• Leveraged trades amplify Bitcoin price movements

• Chinese investors exiting add pressure on prices

• Fed decisions may increase short-term volatility

Bitcoin’s short-term path depends on clearer U.S. economic data and housing conditions. Fed decisions may cause temporary swings. Long-term recovery requires improving economic outlook. Investors watch the $85,000–$90,000 range as critical support and maintain cautious positions.

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The post Bitcoin Fails to Break $92,000 as Investors Await Fed appeared first on Coin Engineer.

Dogecoin Leads the Losses

Dogecoin, the largest memecoin by market capitalization, led the losses with a 5.6% drop in the past 24 hours, while SHIB recorded a 10.4% decrease. The Ethereum-based Pepe (PEPE) was the only top-cap memecoin to show gains, rising by 1.7%.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

In addition to price drops, the open interest (OI) in memecoins also saw a decline. For instance, Pnut (PNUT) led the retreat with a 30% drop in OI, followed by DOGE, which saw a 20% decrease in OI to $3.1 billion. Memecoin OI fell overall, indicating bearish sentiment as traders closed leveraged positions in anticipation of further price drops.

The broader crypto market experienced a massive drawdown, with over $1.7 billion in liquidations in just 24 hours. Memecoin positions saw significant liquidations, with DOGE longs contributing over $72.6 million to the total liquidations. Similarly, SHIB, PEPE, and WIF saw substantial long liquidations as well, with PEPE liquidations reaching $7.9 million and WIF at $3.6 million.

Biggest Liquidation Event Since 2021

This event marks the largest liquidation event since 2021, resembling the start of the 2022 bear market. A similar event occurred earlier in December when a flash crash wiped out over $816 million in long positions, including memecoin losses.

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