Bitcoin Falls Below $90K: Macro Events Loom

Bitcoin's price dipped below the $90,000 mark on December 14, 2025, amid a palpable shift in market sentiment driven by low liquidity and looming macro events. The flagship cryptocurrency closed at $89,450, down 3.2% from the previous week's close of $92,380, according to CoinGecko. This decline comes as investors brace for key U.S. and global economic data releases that could influence market dynamics.

Total Value Locked (TVL) in DeFi protocols across major blockchains showed a slight decrease of 1.7% over the past week, totaling $124.5 billion as per DefiLlama. Ethereum's TVL stood at $72.3 billion, while Solana and other altcoins exhibited weaker performance with Solana's TVL dropping 5.1% to $9.8 billion. The trading volume across DeFi platforms also saw a 4% reduction, with daily fees collected by DeFi protocols amounting to $12.3 million on December 13, a figure that's down 2.8% from the week prior, as reported by Dune.

Historically, Bitcoin has shown resilience in the face of macro uncertainties, but current market conditions, including a reduced appetite for risk and altcoin underperformance, have contributed to the recent dip. Compared to its all-time high of $105,000 in November 2025, Bitcoin's current value represents a 14.8% decrease, signaling a cautious approach among investors.

The DeFi sector, often seen as a bellwether for broader crypto market sentiment, has not been immune to these shifts. The number of unique active wallets interacting with DeFi protocols on Ethereum decreased by 2.3% to 1.4 million in the past week, reflecting a cooling off in user engagement. This trend aligns with the broader market's cautious stance ahead of significant economic indicators that could sway investor confidence.