Investing.com– Bitcoin rose slightly on Thursday but faced resistance in retaking $90,000 as signs of a deescalation in geopolitical tensions over U.S. demands for Greenland provided limited support to cryptocurrencies.
Crypto prices vastly lagged a rally in global stock markets, with technology shares- usually a trendsetter for crypto- also logging much larger gains.
Bitcoin was flat at $90,001.7 by 01:19 ET (06:19 GMT).
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Bitcoin takes fleeting support from Trump-Greenland deescalation
Bitcoin had risen sharply on Wednesday after U.S. President Donald Trump said he will not impose tariffs against Europe over his demands for Greenland, and that a framework deal on the matter had also been reached.
But the world’s largest crypto failed to hold on to gains, drifting lower and below $90,000 shortly after. This came even as broader risk-driven markets rallied, while safe havens such as gold tumbled.
Crypto markets remained out of favor, especially among retail investors, after a flash-crash through late-2025 dampened sentiment towards the sector.
Markets were also growing increasingly wary of potential selling pressure from crypto treasury companies, given that prolonged price weakness in Bitcoin could leave major treasuries struggling to meet their debt obligations.
Strategy Inc’s (NASDAQ:MSTR) disclosure of a $2.13 billion Bitcoin buy also did little to improve sentiment towards the coin this week.
Coinglass data showed the world’s largest crypto continued to trade at a discount in U.S. markets.
A delay in a key U.S. crypto regulatory bill earlier this month also dampened sentiment towards the sector.
BitGo raises $213 mln in US IPO
Crypto custody firm BitGo on Wednesday priced its U.S. initial public offering above the indicated range, and raised $212.8 million from the offering.
The crypto custody firm raised the funds at a near $2 billion valuation, indicating that investor appetite for crypto-linked equities, after a bumper 2025, remained strong.
Bitgo’s offering and market debut on Thursday are expected to set the stage for other major crypto firms seeking public market debuts this year, with reports showing asset manager Grayscale and exchange Kraken were seeking IPOs in 2026.
Crypto price today: altcoins creep higher
Broader crypto prices advanced on Thursday, although they pared a bulk of their early gains.
Most altcoins were also nursing losses in recent weeks. World no.2 crypto Ether rose 1.3% to $3,018.71, while XRP added about 2%.
Solana, Cardano, and BNB advanced between 1.4% and 2%.
Among memecoins, Dogecoin rose 1.3%, while $TRUMP fell 0.2% after losing a key $5 support level this week.
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