Crypto markets consolidate as investors await macro triggers from US

After testing the $94,000-$95,000 zone earlier in the week, BTC retraced and briefly dipped below $90,000 before stabilising near the mid-$90,000 levels

Crypto markets remained in a consolidation phase on Friday as bulls attempted a recovery while traders stayed cautious ahead of key macro triggers, including the US nonfarm payrolls report and a Supreme Court ruling on trade tariffs.  The flagship digital asset, Bitcoin (BTC), stayed range-bound and slipped below key psychological levels amid short-term profit-taking and mixed institutional flows. After testing the $94,000–$95,000 zone earlier in the week, BTC retraced and briefly dipped below $90,000 before stabilizing near the mid-$90,000 levels  Among the top five cryptocurrencies by market capitalisation, Ethereum traded in the $3,100–$3,200 range, mirroring Bitcoin’s pullback. BNB, XRP, and Solana also weakened, with losses spread across the broader market. 

 

Bitcoin faces resistance amid macro uncertainty

Commenting on Bitcoin’s recent price action, Vikram Subburaj, chief executive officer of Giottus, said the move reflected ETF outflows and leveraged liquidations, with reports pointing to significant sell-side pressure and more than $440 million in crypto liquidations during concentrated trading sessions. He added that Bitcoin’s inability to reclaim sustained upside above the $94,000 level indicates that resistance remains firmly in place.

 

“Macro conditions have tightened risk appetite as traders look for positive cues. The broader risk-off sentiment has spilled into crypto alongside equity markets. ETF flows show periods of inflows followed by modest outflows, indicating rotation rather than conviction buying,” Subburaj said.

 

Bitcoin has faced resistance near the $93,000 level for the third time and is now testing support in the $89,000–$90,000 zone, a key order block where strong passive bids continue to absorb selling pressure. At last check, BTC was trading at $90,989, up nearly 1 per cent over the past 24 hours, with trading volume of $40 billion, according to CoinMarketCap data. The token has moved in a range of $89,233 to $91,520 during the same period.

 

Despite its market capitalisation remaining below the $2 trillion mark at around $1.81 trillion, Bitcoin continues to be the largest cryptocurrency by market value.

 

From a technical perspective, Riya Sehgal, research analyst at Delta Exchange, said a close above $91,700 could trigger a short squeeze towards $93,000, while a break below $89,000 could open the $86,000–$87,000 range. Subburaj added that below $90,000, the $87,000–$88,000 zone becomes critical.  “Until BTC reclaims $95,000 with volume, investors should keep leverage low, respect support levels, and add exposure only on confirmed strength, not intraday rebounds,” he said.

Ethereum tracks Bitcoin’s range-bound trade

The broader crypto market traded mixed, with total market capitalisation hovering around $3.1 trillion following a volatile start to 2026. Bitcoin held near the $91,000 level, while Ethereum struggled to sustain levels above $3,100.

 

Ethereum tracked Bitcoin’s movement and was last trading at $3,119, up 0.31 per cent over the past 24 hours, with trading volume of $21.6 billion. The token moved between $3,052 and $3,140 during the same period. 

 

According to CoinMarketCap, Ethereum remains nearly 37 per cent below its all-time high of $4,953, recorded on August 25, 2025. Sehgal said ETH bulls need to defend the $3,050 level to avoid further downside, with resistance seen at $3,180 and $3,250.

 

On the institutional front, BlackRock added nearly $900 million worth of Bitcoin in early January, signalling renewed accumulation. JPMorgan said ETF flows have stabilised, suggesting the de-risking phase may be nearing an end, while Morgan Stanley announced plans to launch a digital wallet later this year.