Core Insights - The dollar is trading steadily ahead of upcoming U.S. economic data that may impact expectations for the Federal Reserve's December meeting [1][2] - Delayed data on September retail sales and producer price index will be released at 8:30 a.m. Eastern time, with the consumer confidence survey from the Conference Board scheduled for 10 a.m. Eastern time [1] Market Reaction - Analysts from Danske Bank suggest that with limited data available, the market's reaction could be more pronounced than usual, potentially influencing sentiment regarding the FOMC's December meeting [2]

Core Viewpoint - Bitcoin (BTC) may be nearing a bottom, with potential signs of recovery as suggested by industry experts Tom Lee and Matt Hougan [1][5] Market Performance - Bitcoin has dropped below $90,000, marking a decline of over 29% from its all-time high (ATH) of October 6, and has experienced a 5.47% daily loss [2] - The current trading price of Bitcoin is $89,973, reflecting a significant downturn that has erased its gains for 2025 [2] Factors Influencing Decline - The recent decline is attributed to a massive liquidation event on October 10, described as the largest in the cryptocurrency industry's history [3] - Investor anxiety is heightened ahead of the Federal Reserve's December meeting, as crypto is perceived as a risk-on asset, leading to lower prices with any hawkish signals from the Fed [4] Signs of Potential Recovery - There are indications that the sell-off may be losing momentum, with signs of exhaustion noted by industry experts [4][5] - On-chain and technical metrics suggest a potential bottom formation, with over 28% of Bitcoin's circulating supply held at a loss, historically marking market bottoms [7] - A death cross has appeared on Bitcoin's chart, indicating a bearish trend as the 50-day moving average falls below the 200-day moving average [7]