Bitcoin (BTC) and major altcoins slid on Dec. 15 as traders positioned for a packed week of U.S. economic releases that could reset expectations for future Federal Reserve policy.
Bitcoin fell to $86,325.90, down 2.8% over 24 hours, and XRP dropped to $1.91, down 4.7%. Ethereum (ETH) slipped to $2,972.12, down 3.6%.
The move lower came alongside a spike in forced liquidations across the derivatives market.
Over the past 24 hours, 147,436 traders were liquidated for a total of about $470.41 million, with long positions accounting for roughly $386.91 million.
The sharp drop comes as traders head into a data-heavy week that could reset expectations for future Federal Reserve policy, given the fact that Bitcoin and other popular cryptocurrencies have increasingly traded like liquidity-sensitive risk assets.
After the Fed again cut rates on Dec. 10 and signaled caution on further easing, markets are watching whether upcoming inflation and labor prints keep rate cuts in play for 2026.
Related: Wall Street sells Bitcoin ahead of Fed's key decision
In a Dec. 15 post , trader Sir Tom framed the setup simply:
"This week is packed with key macro events impacting crypto," adding that "U.S. CPI (Thu) and Core PCE (Fri) are the week's biggest volatility triggers."
Another widely shared view is that softer labor conditions can become bullish beyond the initial volatility if it increases expectations for easier policy.
This thinking reflects a common market pattern where negative economic news can lift risk assets if it forces central banks to step in.
Key releases investors are tracking this week
With multiple delayed and rescheduled releases now landing together, traders expect faster reactions as markets adjust positions in real time.
The Census Bureau has rescheduled September retail salesfor Dec. 16after the 2025 federal funding lapse disrupted releases. Retail sales track how much consumers are spending across areas such as stores, online shopping and services. Strong spending suggests the economy remains resilient, while weaker numbers can signal slowing growth.
Labor data release the same day adds more details by showing whether employment and wages are still holding up.
The Bureau of Labor Statistics said the Consumer Price Index (CPI) for November is due Dec. 18 , with revised release dates following the lapse. CPI is the most closely followed inflation gauge in markets because it directly influences how aggressively the Fed feels it needs to fight inflation. Even small surprises in CPI often trigger sharp moves across stocks, bonds and crypto.
St. Louis Fed (FRED) shows the next Personal Consumption Expenditures (PCE)release date is Dec. 19.
The National Association of Realtors has scheduled the November existing-home salesfor Dec. 19. Housing is rate-sensitive and can hint at slowdown risks.
Put simply, these reports tell markets how confident consumers are, whether inflation is still easing, and how sensitive the economy remains to interest rates.
For crypto traders, the importance lies in how this data shapes expectations for future Fed policy, which in turn influences liquidity, risk appetite and capital flows
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Why inflation and jobs data matter for crypto
CPI and jobs data influence how investors price Fed decisions, which affects the U.S. Dollar and broader liquidity conditions.
Recent jobless claims jumped to 236,000 for the week ending Dec. 6, according to the U.S. Labor Department, adding to attention on whether the labor market is cooling.
For crypto, this matters because lower rates tend to weaken the USD and increase available liquidity, conditions that have historically supported Bitcoin and other digital assets.
As liquidity improves, risk assets tend to trade more smoothly, while tightening conditions often lead to caution and reduced volumes.
Markets often react first to the data itself and then to how that data reshapes expectations for future policy.
Analyst Marcos Crypto summarized this shift in a Nov. 26 post , writing that:
Crypto is "starting to act like a real macro asset," adding that "when rates move, $BTC reacts" and "when liquidity improves, the market livens up and trades more smoothly."
Historically, crypto has reacted sharply around inflation surprises. Bitcoin jumped above $84,000 after a softer-than-forecast U.S. CPI print in March 2025, while a hotter CPI print in February 2025 helped send bitcoin below $95,000.
At the time of writing, the total crypto market capitalization stood near $3.14 trillion.
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This story was originally published by TheStreet on Dec 15, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
