Bitcoin experienced a brief surge to around $92,000 during the U.S. mid-morning session but was unable to maintain this level, gradually declining throughout the remainder of the trading day. About an hour before the U.S. stock market closed on Friday, bitcoin was valued at approximately $90,300, marking a nearly 1% decrease over the previous 24 hours.
In recent weeks, bitcoin has struggled to advance even as many other asset classes have seen gains. For instance, the Nasdaq rose by 1%, and the S&P 500 increased by 0.8%. Additionally, precious metals and crude oil prices surged broadly while bond markets showed slight improvements.
Further reading: Bitcoin might be preparing for a rally similar to last year’s peak at $126,000
The latest U.S. employment report for December presented mixed results: job growth was modest with only 50,000 new positions added—falling short of economists’ expectations of 60,000—and previous months’ figures were revised downward significantly. However, unemployment improved from 4.6% in November down to 4.4%, better than forecasts which anticipated just a minor drop to 4.5%.
The University of Michigan’s Consumer Sentiment Index for January climbed slightly higher than expected at 54 compared to predictions around 53.5 and December’s reading of 52.9. Meanwhile inflation expectations over one year edged up from 4.1% to 4.2%. Notably though this measure varies widely depending on political views—with Democrats anticipating inflation near five percent while Republicans expect it closer to one percent.
A Supreme Court ruling regarding whether tariffs imposed during the Trump Administration are constitutional has been postponed; no decision appeared among those released on Friday morning as some had anticipated earlier in the week—new rulings are now expected next Wednesday instead.
Most cryptocurrency-related stocks declined: Coinbase (COIN) dropped by about two point three percent; Gemini (GEMI) fell four point five percent; Strategy (MSTR) decreased roughly five point six percent.
However certain bitcoin mining companies that have shifted focus toward artificial intelligence infrastructure saw gains between two and four percent — including Hut Eight (HUT), IREN (IREN), and Core Scientific (CORZ).