Another volatile week in crypto ended with a familiar mix of anxiety and cautious optimism. Bitcoin briefly slipped below the closely watched $90,000 level before bouncing back, while Ethereum quietly did what the market needed most—hold its ground.
By the time Friday rolled around, the worst of the turbulence had faded. Bitcoin stabilized, Ethereum stayed firm, and traders were left wondering whether this prolonged consolidation is setting the stage for something bigger in 2026.
Crypto Holds Steady as Traditional Markets Surge
While crypto spent the week moving sideways, traditional markets charged ahead. U.S. equities printed fresh all-time highs, silver surged to $79, and gold pushed past $4,500 since Donald Trump’s inauguration. Crypto, by comparison, has yet to catch the same momentum.
That contrast has been hard to ignore. Over the past year, Bitcoin slid roughly 8%, falling from $99,000 to near $90,000. Ethereum followed a similar path, retreating from around $3,435 to the low $3,100s.
Late in the week, some pressure eased after U.S. Treasury Secretary Scott Bessent renewed calls for further rate cuts and jobless claims came in slightly below expectations. The relief helped crypto prices steady, even if it didn’t spark a breakout.
Bitcoin: Panic, Then Poise
Bitcoin spent much of the week filling a key CME gap, with traders also eyeing another unfilled gap near $88,000. Early Thursday selling pushed BTC down to roughly $89,200, triggering a wave of short-term nerves.
The recovery, however, was swift. Bitcoin reclaimed $90,000 and stabilized near $91,000 heading into the weekend, finishing the week up about 2.5%.
Open interest dipped slightly, and more than $52 million in leveraged positions were liquidated, but the broader structure remains intact. Bitcoin continues to trade in a well-defined range between $87,000 and $92,000, supported by ETF inflows around the $86,500 area.
Resistance remains heavy at $92,000—and looms even larger at the psychological $100,000 mark.
Ethereum Does What It Needs to Do
Ethereum quietly emerged as the market’s anchor. Despite pressure across altcoins, ETH held above $3,000 and finished the week up roughly 3%, trading near $3,100.
Staking demand remains a key support. This week, Tom Lee’s Bitmine added more than $60 million worth of ETH to its staking operations, reinforcing long-term confidence in the network. While futures activity cooled slightly, funding rates stayed positive, suggesting bullish positioning hasn’t vanished.
In a market searching for leadership beyond Bitcoin, Ethereum’s resilience stands out.
Altcoins Show Fragility
Elsewhere, the risks of smaller projects were on full display. Zcash plunged 20% after its core development team resigned, a reminder that not all crypto assets share the same foundations or staying power.
Historically, periods like this—where price action feels dull and sentiment drifts—have often preceded explosive moves. For many traders, Ethereum remains the key.
If ETH can eventually clear $3,600, it could once again act as the catalyst for a broader altcoin recovery.
Is 2026 Crypto’s Breakout Year?
Bitcoin is still the market’s compass, setting the tone for risk appetite across digital assets. But for a true next leg higher, Ethereum likely needs to lead.
For now, crypto is consolidating while stocks and commodities run ahead. Whether this divergence resolves through a crypto breakout—or further patience—may define the early months of 2026.
As past cycles have shown, quiet markets don’t stay quiet forever.