Bitcoin Struggles Below $90,000 as Geopolitical Relief Fails to Spark Crypto Rally

Bitcoin edged slightly higher on Thursday but failed to reclaim the $90,000 level, even as easing geopolitical tensions between the United States and Europe lifted global markets.

The world’s largest cryptocurrency was trading flat at $90,001.7 by 01:19 ET, lagging far behind the strong rally seen in equities, particularly technology stocks, which typically set the tone for digital assets.

Bitcoin initially jumped on Wednesday after U.S. President Donald Trump said he would not impose tariffs on Europe over Greenland and announced a framework agreement on the issue. But the move proved short lived. The coin quickly slipped back below $90,000, even as risk appetite surged elsewhere and traditional safe havens such as gold retreated.

Crypto markets remain under pressure following a sharp selloff late last year that damaged retail confidence. Investors are also increasingly wary of potential selling pressure from crypto treasury firms, as prolonged weakness in Bitcoin could strain their ability to service debt.

Even Strategy’s disclosure of a $2.13 billion Bitcoin purchase did little to lift sentiment. Data from Coinglass continues to show Bitcoin trading at a discount in U.S. markets, signaling subdued domestic demand. The recent delay of a major U.S. crypto regulation bill has added another layer of uncertainty.

In related developments, crypto custody firm BitGo priced its U.S. initial public offering above expectations, raising $212.8 million at a valuation near $2 billion. The strong debut highlights sustained investor interest in crypto related equities, even as enthusiasm for tokens themselves remains muted.

Broader digital assets posted modest gains. Ether rose 1.3% to $3,018.71, while XRP advanced about 2%. Solana, Cardano and BNB gained between 1.4% and 2%. Among memecoins, Dogecoin added 1.3%, while $TRUMP slipped 0.2% after breaking below the $5 level earlier in the week.