Bitcoin (BTC) Price: Weekend Drop Continues as Markets Await Key Economic Data

TLDR

• Bitcoin price dropped below $90,000 on December 15, falling from its October all-time high of $126,000
• MicroStrategy (formerly Strategy) retained its spot in the Nasdaq 100 index after concerns it could be removed
• MSCI is reviewing a proposal to exclude companies with crypto holdings exceeding 50% of assets, with a decision due January 15
• Standard Chartered cut its end-2025 Bitcoin price forecast from $200,000 to $100,000
• Traders remain cautious ahead of key U.S. economic data releases and a Bank of Japan interest rate decision

Bitcoin traded around $89,600 on December 15, marking a drop below the $90,000 level during weekend trading sessions. The world’s largest cryptocurrency has fallen from its all-time high of $126,000 reached in October.

The price movement comes as trading volumes remained thin at around $89 billion. Bitcoin showed a decline of roughly 7.6% over the past month.

MicroStrategy, the company formerly known as Strategy, successfully retained its position in the Nasdaq 100 index. The tech-heavy exchange confirmed the decision one year after the bitcoin-focused company joined the benchmark index.

Last year’s inclusion was expected to bring about $2.1 billion in net buying of MicroStrategy shares, according to Bernstein analysts. The company’s stock has dropped 60% from its all-time highs over the past six months.

Index Exclusion Concerns

MicroStrategy CEO Michael Saylor and company chief executive Phong Le wrote a 12-page letter to MSCI. The letter addresses a proposal that would bar companies whose crypto holdings exceed 50% of total assets from MSCI’s global equity benchmarks.

The executives warned of “profoundly harmful consequences” if MSCI adopts this proposal. A decision is expected by January 15.

JPMorgan estimates that the proposal could trigger outflows of up to $8.8 billion from MicroStrategy’s stock if other index providers follow MSCI’s lead. Saylor and Le argued that MSCI should “remain neutral and let the markets decide” on digital asset treasury companies.

Ether traded near $3,104, showing relative strength compared to bitcoin. The second-largest cryptocurrency posted gains of more than 2% over the past seven days.

Other major cryptocurrencies showed weakness. Solana, XRP, dogecoin and Cardano’s ADA all declined, with double-digit losses over the past month.

The total cryptocurrency market capitalization stood at nearly $3.15 trillion, down approximately 0.8% over 24 hours. Bitcoin dominance remained near 57%.

Market Outlook Changes

Standard Chartered made a major adjustment to its bitcoin price forecast. The bank cut its end-2025 prediction in half, from $200,000 to $100,000.

Crypto analyst Ali Martinez identified $86,000 as a key support level for bitcoin. He noted that a deeper pullback could occur if that level fails to hold.

Markets are positioned ahead of a busy week of U.S. economic data. Investors will watch employment indicators, inflation data, and December flash PMI readings.

Federal Reserve Governors Stephen Miran and Christopher J. Waller are scheduled to speak during the week. The Bank of Japan is widely expected to raise interest rates to 0.75% at its Thursday policy meeting.

Japanese Governor Kazuo Ueda has signaled that inflation has stayed above the central bank’s 2% target for more than three years. Markets have largely priced in the expected rate move.

Adam Back, CEO of Blockstream, told Yahoo Finance that bitcoin adoption is still in “very early stages.” He predicted that all companies will eventually become bitcoin treasury companies.

The post Bitcoin (BTC) Price: Weekend Drop Continues as Markets Await Key Economic Data appeared first on CoinCentral.