What to know:
- Bitcoin bounced above $89,000 overnight, but bulls are once again struggling to maintain gains in the U.S. session.
- ETH, SOL, SUI lead the altcoin rebound, up over 5% from Thursday’s lows.
- U.S. equities are showing strength, also helping to boost crypto-related stocks like BitMine and Galaxy.
Bitcoin bulls are fighting to break on Friday what’s been a consistent pattern of sell pressure during U.S. hours.
Dipping below $85,000 late on Thursday afternoon, BTC once again climbed after U.S. markets closed, pushing back above $89,000 they opened Friday morning. That level, though, has roughly capped every attempt of a breakout throughout the week, with sellers hammering prices back to square one — sometimes within minutes and sometimes over the course of a few hours.
The largest crypto for the moment is holding fairly steady ahead of the pre-holiday weekend, trading at $88,400, up 0.3% over the past 24 hours.
Ether bounced to just shy of $3,000, up 1% over the past day, while Solana’s SOL and lead the overnight rebound among altcoins.
U.S. equities are having another strong session, led by the Nasdaq’s 1% gain, with AI bellwethers Nvidia, Oracle and AMD rising 3%-6%.
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Digital asset-related stocks followed suit in the rebound. Ethereum treasury firm BitMine (BMNR) advanced almost 8%, while Galaxy Digital (GLXY) and stablecoin issuer Circle (CRCL) were each up around 3%.
Strategy (MSTR), the largest corporate BTC holder, also bounced more than 3%, pushing its multiple to net asset value (mNAV) to 1.09.
Meanwhile, BitDigital (BTBT) is up 10% following news related to WhiteFibre (WYFI), has signed a 10-year, 40MW colocation agreement with Nscale, valued at approximately $865 million. BitDigial owns roughly 70% of WhiteFibre (itself ahead 11%), amplifying the positive impact on BTBT shares.