Bitcoin hovered near the $90,000 level as investors awaited US jobs data and a Supreme Court ruling on global tariffs. The broader crypto market traded mixed, with analysts highlighting consolidation, ETF outflows and cautious sentiment amid geopolitical and trade-related uncertainty.
Bitcoin was trading near the $90,000 mark and the crypto market showed a mixed trend on Friday as investors awaited the US jobs data and the decision on global tariffs. Bitcoin and Ethereum were trading at $90,983 and $3,118 levels, respectively.
In the past 24 hours, Bitcoin and Ethereum were up by nearly 1%. Among the major altcoins, XRP, BNB, Solana and Cardano were up over 3% in the past 24 hours, whereas Tron, Dogecoin and Hyperliquid were down up to 1% in the same period.
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Riya Sehgal, Research Analyst at Delta Exchange, said the global crypto market traded mixed on Friday, with total capitalisation hovering around $3.1 trillion as traders paused after a volatile start to 2026. Bitcoin is now testing support between $89,000 and $90,000, a critical order block where strong passive bids continue to absorb selling pressure.
The CoinSwitch Markets Desk said that BTC is trading near $91.2k after seeing a pullback below $89.5k. The decline was driven by profit-taking, ETF outflows and fading expectations of near-term Fed rate cuts, which reduced risk appetite across crypto markets.
In the past week, Bitcoin and Ethereum were up by 2.29% and 2.85%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano and Hyperliquid gained up to 11% in the past week.
Akshat Siddhant, Lead Quant Analyst at Mudrex, said Bitcoin has rebounded above $90,000 after briefly dipping to weekly lows near $89,200. However, heightened geopolitical and trade-related concerns have kept investors cautious, limiting follow-through buying and slowing the recovery.
Siddhant added that for now, $88,500 remains a key support, with $92,000 acting as immediate resistance.
Bitcoin remained range-bound and slipped back below key psychological levels amid short-term profit-taking and mixed institutional flows. After testing the $94,000 to $95,000 zone earlier in the week, BTC retraced, briefly dipping below $90,000 before stabilising around the low-to-mid $90,000 levels on January 8.
The move reflected ETF outflows and leveraged liquidations, with reports indicating significant sell-side pressure and more than $440 million in crypto liquidations in concentrated sessions.
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The crypto markets remain in a consolidation phase as bulls attempt to initiate a recovery. The global market capitalisation dropped below $3.2 trillion, while market sentiment remains neutral.
Over the last 24 hours, crypto markets have remained structurally stable but largely directionless, reflecting an ongoing consolidation phase rather than signs of weakness. Bitcoin continued to trade within a narrow range, with upward moves encountering supply near established resistance zones.
(Disclaimer: The recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)
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