Bitcoin Nears $89,000 Ceiling Amid U.S. Trading Hour Selloffs, Altcoins and Crypto-Related Stocks Rebound
Bitcoin is trading around $88,400, up 0.3% in the last 24 hours, approaching a price ceiling near $89,000 to $90,000 that has capped its weekly rallies. BTC fell below $85,000 Thursday afternoon but climbed back above $89,000 by Friday morning after U.S. markets closed, as selling pressure during U.S. trading hours continues to limit breakout attempts beyond approximately $89,000.
Altcoins have rebounded strongly, with Ethereum around $2,980.91 near the $3,000 mark, Solana about $126.09, and SUI near $1.46, all up more than 5% from Thursday's lows.
U.S. equities also strengthened, led by the Nasdaq which rose about 1%. AI-focused stocks Nvidia, Oracle, and AMD saw gains between 3% and 6%, while crypto-related stocks such as BitMine surged nearly 8%, Galaxy Digital increased about 3%, and Circle rose roughly 3%.
MicroStrategy (MSTR), the largest corporate Bitcoin holder, gained more than 3%, with its net asset value multiple (mNAV) at 1.09.
BitDigital (BTBT) shares jumped 10% following news that WhiteFibre (WYFI), in which BitDigital owns roughly 70%, signed a $865 million, 10-year, 40MW colocation deal with Nscale. WhiteFibre's shares gained around 11%, further boosting BitDigital's stock.
The recurring theme remains that sustained selling pressure during U.S. trading hours continues to cap Bitcoin's attempts to break above the $89,000 level.
