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Bitcoin traded in a narrow range during Asian hours on Friday, stabilizing after this week’s pullback from an early New Year rebound, as investors remained cautious ahead of key U.S. labor market data that could shape expectations for future interest rate policy.
The world’s largest cryptocurrency rose 0.2% to $90,946 by 00:34 ET, but remained well below levels seen at the start of the year, with broader risk appetite constrained by rising geopolitical uncertainty.
Muted Weekly Performance Amid Global Tensions
Bitcoin was on track to end the week up just 0.4%, reflecting a subdued performance after failing to reclaim the $95,000 level earlier in the week. The inability to extend gains highlighted persistent hesitation among traders, particularly as global political risks continued to weigh on sentiment.
Uncertainty surrounding U.S. actions in Venezuela remained a key overhang. Markets are still assessing the implications of Washington’s weekend incursion that resulted in the capture of Venezuelan President Nicolás Maduro, alongside President Donald Trump’s comments signaling potential long-term U.S. control over Venezuela’s oil sector. The lack of clarity over how such plans might unfold has added to broader market unease.
Geopolitical strains in Asia also pressured sentiment. Tensions between China and Japan escalated after Beijing announced new economic restrictions against Tokyo, linked to an ongoing diplomatic dispute over late-2025 comments by Japanese Prime Minister Sanae Takaichi regarding potential military intervention in Taiwan.
Bitcoin ETFs See Sustained Outflows
Caution among institutional investors was evident in the continued outflows from U.S.-listed spot Bitcoin exchange-traded funds. Data showed that more than $1 billion was withdrawn from these products over three consecutive sessions through January 8, marking a sharp reversal from modest inflows seen at the start of the year.
The sustained redemptions underscored weakening institutional conviction and coincided with Bitcoin’s inability to sustain upward momentum.
Altcoins Hold Narrow Ranges Ahead of Payrolls
Broader cryptocurrency prices remained rangebound as markets awaited the release of U.S. nonfarm payrolls data later on Friday. The report is expected to provide clearer insight into labor market conditions and could influence longer-term expectations for U.S. interest rates.
Ether rose 0.4% to $3,119, while XRP gained 1.2% to $2.13. XRP remained one of the stronger performers this week, up around 5%, supported by signs of tightening supply on major exchanges.
Solana outperformed on Friday, jumping 5% and heading for a similar weekly gain, while Cardano added 1.1% and was set for a modest weekly advance. BNB climbed 2% on the day and was up more than 2% for the week.
Despite pockets of strength among select tokens, the broader crypto market continued to trade cautiously, with investors reluctant to commit fresh capital ahead of key macroeconomic signals and amid persistent geopolitical uncertainty.
