Bitcoin closed out a turbulent week with another slide on Friday, holding below $95,000 and locking in its steepest weekly decline since March. The cryptocurrency failed to find support during U.S. trading hours, ending the session near its lows after shedding nearly 9% over the past five days — its worst stretch in eight months and a return to price levels last seen in May.
Despite modest gains in major U.S. equity indices, crypto assets remained under pressure.
– Ethereum dropped more than 11% this week, slipping beneath $3,200.
– Solana registered a 15% weekly loss.
– XRP, meanwhile, fell just 1%, supported in part by the debut of Canary Capital’s first U.S.-listed spot XRP ETF.
Crypto Stocks Mixed After Heavy Pressure
The weakness extended into crypto-linked equities:
– MicroStrategy (MSTR) dipped another 4%, trading under $200 for the first time since October 2024.
– Bullish (BLSH), BitMine (BMNR), and miners CleanSpark (CLSK), MARA Holdings (MARA), and Hive Digital (HIVE) all declined between 4% and 7%.
A handful of names managed to rebound:
– Miner Hut 8 climbed 6% following quarterly results from American Bitcoin, its venture with the Trump family.
– Robinhood (HOOD) and Riot Platforms (RIOT) advanced around 3%.
Market Struggles With Missing Economic Data
Bitfinex analysts said the downturn has been intensified by a lack of crucial U.S. economic data during the historic government shutdown from Oct. 1 to Thursday. With inflation, labor, and other macro indicators temporarily unavailable, both investors and the Federal Reserve have been forced to operate with limited visibility.
They described the situation as an “information vacuum,” noting that sentiment remains fragile given the political backdrop. The temporary funding bill passed this week keeps the government open only until January 30. “Uncertainty hasn’t been removed — it’s simply been delayed,” they wrote.
Noelle Acheson, author of Crypto Is Macro Now, saw the recent pullback as a reset after months of consolidation that failed to break above $120,000. “This corrective phase is necessary before the market can regain its footing,” she said, adding that bitcoin’s long-term fundamentals remain intact once this selloff plays out.
Acheson highlighted macro liquidity as bitcoin’s primary driver. While a rate cut may not arrive until late Q1 2026, balance-sheet adjustments or liquidity injections could support risk assets sooner.
Analysts Warn of Potential Drop Toward $84K
Technical signals point to further downside, according to Ledn CIO John Glover. Bitcoin’s fall through the 23.6% Fibonacci retracement — located just under the $100,000 level — opens the path toward the next significant support near $84,000.
With macro uncertainty unresolved and liquidity still thin, analysts caution that the market may be vulnerable to additional declines in the near term
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