The cryptocurrency market experienced a mixed performance on Friday, as Bitcoin tested the $93,000 mark before facing renewed selling pressure. While Ethereum and XRP also saw gains, they struggled to overcome critical resistance levels. Investor sentiment remains cautious amid significant economic uncertainties, despite notable gains in some altcoins.
Bitcoin Approaches $93,000
Bitcoin’s price surged towards a crucial resistance level of $93,000, breaking through the $92,500 mark before encountering strong resistance. On Friday, the leading cryptocurrency reached a peak of $92,969 on major exchanges, yet this level proved to be a formidable barrier. The pursuit of the psychological $100,000 threshold remains elusive for bullish investors.
Analysts from the QCP Group recently shared their short-term outlook for Bitcoin’s price on social media, identifying a critical supply wall around the $90,000 level. They noted significant support between $80,000 and $82,000.
“Options markets reflect caution despite heavy open interest in year-end BTC calls. Skew, implied volatility, and sentiment have softened, suggesting a range-bound profile. Supply likely caps around mid-$90k, while support remains near $80–82K, leaving macroeconomic catalysts firmly in control of the market’s direction.”
Despite a pullback below $91,000 at the time of this writing, gains earlier in the day allowed some layer 1 and layer 2 solutions on the Bitcoin network to register profits. BounceBit and Stacks were among the Bitcoin ecosystem tokens that experienced growth, although the recent price movement may indicate a potential dead cat bounce.
Ethereum and XRP Face Resistance
Similar to Bitcoin, Ethereum has struggled to maintain its momentum. Recently, the leading altcoin fell to lows of $2,600 after closing above $4,000 at the end of October. The breach of the $3,000 threshold puts additional pressure on bullish investors.
However, after testing a demand recharge zone, ETH’s price returned to resistance levels above $3,000, despite a 25% decline over the last month.
Although the price rose nearly 9% last week, ETH’s failure to break higher reflects a broader fatigue among altcoins. With Bitcoin trading at $90,504 at the time of writing, a potential downward cascade for ETH could be on the horizon.
XRP encountered similar challenges, trading at $2.18 with a decrease of 1.4% in the last 24 hours. The token faces significant resistance at $2.25 and $2.50, which has proven challenging for bulls since the October 10, 2025 crash.
The recent launch of spot XRP ETFs has not provided the necessary momentum for bullish investors to break through these resistance levels.
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