(Bloomberg) — Bitcoin is ending its first full week of trading in 2026 little changed — hovering around the $90,000 level and down about 2% from a year earlier.
The original cryptocurrency failed to break above $95,000, keeping it below what has effectively been a price ceiling since an October selloff erased nearly a third of its value. Bitcoin began rebounding earlier this week during a broader New Year market rally, but it peaked below $94,800 on Monday. It was trading at about $90,200 at 4 p.m. in New York on Friday.
Investors are awaiting a slate of policy decisions in Washington covering tariffs, Federal Reserve leadership and cryptocurrency legislation, leaving Bitcoin in a holding pattern. The Supreme Court did not issue an expected ruling on Friday on the legality of President Donald Trump’s tariffs, contributing to Bitcoin’s stasis alongside exchange-traded fund inflows and geopolitical uncertainty, according to Jake Ostrovskis, head of over-the-counter trading at Wintermute.
“We’re seeing classic post-rally consolidation after Bitcoin’s strong start to 2026,” Ostrovskis said.
Stronger-than-expected economic data also weighed on expectations for additional interest-rate cuts, limiting Bitcoin’s momentum toward its all-time high above $126,000 in October.
“Macroeconomic data have generally come in stronger than expected, modestly reducing the probability of a March rate cut and likely adding further near-term pressure on prices,” said James Butterfill, head of research at CoinShares.
Some market participants view the price stagnation as constructive.
“Bitcoin is consolidating around $90,000 after a prolonged selloff tied to tax-loss harvesting and fears MSCI would exclude digital-asset treasury companies from major indices,” said Brian Vieten, a senior research analyst covering digital assets and blockchain at Siebert Financial. “With that risk now resolved, selling pressure has largely been exhausted.”
Index provider MSCI shelved a plan this week to remove digital-asset treasuries on the grounds that they behave like investment funds.
Some traders remain bullish on Bitcoin’s longer-term prospects. Butterfill said a price of about $200,000 is achievable by year-end. Ostrovskis said systemic buying would be unlocked again once Bitcoin breaks through the $95,000 psychological barrier, reopening a path to six-figure prices.
“A sustained break above $95,000 likely becomes reflexive,” Ostrovskis said.
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