The overall crypto market reflected losses next to most assets on Friday. Bitcoin price remained low following its downward trajectory this week. At the time of writing, BTC was trading at $89,290 with a price drop of 0.72 percent over the last day. On a seven-day average, BTC’s price has fallen by over 7.7 percent.
In conversation with Coin Headlines, market analysts said markets await a clear catalyst to set the next direction for now. Until then, asset prices largely remain consolidated.
For Ether, the loss of under two percent has brought its retail price at $2,935.
“With macroeconomic and geopolitical uncertainties keeping activity subdued, Bitcoin is trading near $89,700. Ethereum is also drawing attention as exchange reserves have fallen to around 16.2 million ETH, the lowest since 2016, indicating reduced sell-side supply. For ETH, a sustained move above $3,100 could unlock momentum toward $3,400, while $2,850 remains a strong support zone,” Akshat Siddhant, Lead Quant Analyst, Mudrex told Coin Headlines.
Cryptocurrencies trading in losses as of Friday include BNB, XRP, Solana, Dogecoin, Cardano, and Monero. Other assets like Chainlink, Stellar, Hyperliquid, Sui, and Litecoin also registered price drops.
On the other hands, Tron joined Bitcoin Cash, Zcash, Hedera, and Mantle emerged among a handful of tokens to have roped-in gains.
Crypto markets remain generally bearish, with many investors expecting meaningful upside only after potential Federal Reserve rate cuts, possibly tied to a leadership transition.
“Bitcoin and other cryptocurrencies failed to sustain momentum from Wednesday’s Greenland-related relief rally. Despite weak price action, modest risk appetite is evident in the rising Strategy-to-BlackRock iShares Bitcoin Trust ratio, suggesting selective investor positioning,” said Sathvik Vishwanath, co-founder and CEO, Unocoin.
The overall crypto market cap fell by under one percent in the last 24 hours. The valuation of the sector has come to $3.01 trillion, CoinMarketCap showed.
Data by CoinGlass shows that 108,259 traders were liquidated in the last 24 hours with total liquidations hitting $205.30 million.