Bitcoin stalls after post-FOMC slide as inflation data looms over December, analysts say
Bitcoin changed hands below $90,000 on Monday as crypto markets entered a week heavy with macro data, with traders positioning cautiously ahead of U.S. inflation releases that analysts say could determine the tone for the remainder of December.Ether held near $3,100, while BNB and Solana traded around $890 and $132, respectively, according to The Block’s price page.The price action reflects a broader cooling in sentiment after last week’s "hawkish cut" from the Federal Reserve, and a muted follow-through across spot and derivatives markets.Macro calendar takes controlWith FOMC meetings now concluded for 2025, markets turn fully toward U.S. data to gauge how quickly monetary easing may translate into improved liquidity conditions next year.Retail sales, jobless claims, CPI, PCE, and multiple Fed appearances will cluster into a narrow window, raising the stakes for rate-expectation repricing."The macro calendar now takes center stage," said Timothy Misir, head of research at BRN. He noted that markets are no longer trading last week’s rate cut directly, but the data that may validate or challenge it. "Inflation prints will be decisive. Any upside surprise risks reinforcing the ‘hawkish cut’ narrative, while softer data could reopen the door for risk assets into year-end."Analysts also continue to assess the impact of the Fed’s December decision, which included a cautious policy tone despite the 25 bps cut. The Block reported that a "Santa rally" now appears unlikely, as bitcoin continues to fade below key resistance zones following the interest rate decision.Leverage resets and miners pull backOver the last 24 hours, roughly $298 million in positions were liquidated, with longs representing nearly 80% of the total, according to Misir, citing data from CoinGlass. The flush reduced speculative leverage but did little to spark fresh upside momentum, BRN's analyst wrote in a Monday email.Meanwhile, on the supply side, Bitcoin’s network hashrate fell by about 8% after reported mining shutdowns in China’s Xinjiang region. While disruptive in the short term, such contractions historically tighten marginal supply and can precede periods of stabilization.At the same time, onchain behavior suggests reduced sell-side pressure from larger holders. CryptoQuant data shows "wholecoiner" inflows to Binance — transactions of more than 1 BTC moving onto the exchange — have collapsed to levels last seen in 2018. The yearly average now sits near 6,500 BTC, while the weekly average hovers around 5,200 BTC."This trend signals reduced selling intent from investors holding meaningful amounts of BTC," CryptoQuant analysts wrote, noting that the broader ecosystem’s expansion has also redirected flows away from centralized exchanges.Bitcoin wholecoiners inflows on Binance | Image: CryptoQuantMisir said the pattern aligns with what he is seeing across large wallets. "Wholecoiner inflows to Binance are collapsing, signaling reduced large-holder sell intent," he added. "Internal stress is easing even as price remains unconvincing."Last week’s revised outlook from Standard Chartered also mirrors the general market uncertainty. The bank halved its end-2025 bitcoin projection from $200,000 to $100,000, citing diminished corporate treasury buying and slower-than-expected ETF inflows.Although the bank reiterated its long-term view that bitcoin can reach $500,000, it pushed that target from 2028 to 2030.The update added to a sense of pause as the final weeks of the year approached — a tone amplified by mixed positioning, lower liquidity, and heightened macro sensitivity. "This is a waiting game," Misir said. "The next directional move will be decided not by crypto-native narratives, but by inflation data and rate expectations."Until then, analysts say capital preservation matters more than tactical aggression.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.