Bitcoin Holds Near $91,000 While Crypto Market Attempts To Regain Footing – DOGE, SOL Lead Losses

• Analysts from 10x Research and Glassnode highlighted improving fundamentals and key resistance zones for BTC.
• Liquidations across the crypto market reached $174 million over the past 24 hours.

Bitcoin (BTC) held steady around $91,000 on Friday morning as the cryptocurrency market attempted to regain footing from last week’s sell-off.

Bitcoin’s price was flat in the last 24 hours. On Stocktwits, retail sentiment around BTC trended in ‘bullish’ territory over the past day, and chatter dipped to ‘normal’ from ‘high’ levels. 

Most major cryptocurrencies in the top 10 by market value were trading lower, though Tron (TRX), Ethereum (ETH), and Ripple’s XRP (XRP) posted modest gains.

Analysts Flag Key Resistance Bands Ahead

In a research note, 10x Research said recent trading patterns suggest the crypto market may be shifting from a speculative environment toward one influenced more by fundamentals and network usage.

“Recent data suggests the market may be transitioning from a purely speculative regime into one increasingly driven by fundamentals and network growth,” the company said in its report. 

Glassnode's data noted that for Bitcoin to regain momentum toward a new all-time high, it requires a break above major supply clusters. The firm pointed to immediate resistance zones between $93,000 and $96,000 as well as $100,000 and $108,000, where prior buyers typically exert selling pressure.

Mixed Performance Across Altcoins

TRX led gains, with its price rising nearly 1% in the last 24 hours, while Ethereum and XRP’s price edged 0.2% higher. On Stocktwits, retail sentiment around Tron and Ethereum remained firmly in the ‘bearish’ territory over the past day. Meanwhile, retail sentiment around XRP dipped to ‘neutral’ from ‘bullish’ tertiary.  

Meanwhile, Dogecoin (DOGE) led losses among large-cap tokens, falling 1.6%. Solana (SOL) dipped 0.8%, while Cardano (ADA) declined 1.1%. Stocktwits sentiment around Dogecoin stayed in “neutral” territory.

XRP’s price remained subdued in early morning trade on Friday, even after 21Shares was officially approved by the Securities and Exchange Commission (SEC) to launch its XRP ETF (TOXR) on Monday. 

The overall cryptocurrency market edged 0.1% higher over the last 24 hours, with a market value of $3.21 trillion. CoinGlass data showed liquidations at $174 million over the past day. Around $76 million came from short bets, and the other $96 million was from long positions.  

Read also: BTC Price Rebounds After ETF Flows Turn Positive – Solana Outperforms While Binance Coin, Ethereum Slide

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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