Crypto markets were largely steady on Friday, with major assets trading in tight ranges as investors weighed mixed macroeconomic signals and reduced risk exposure ahead of key policy developments.
Bitcoin hovered near $90,000 through the U.S. session, fluctuating between roughly $89,200 and $91,300, according to market data. Ethereum traded close to $3,050, showing similarly muted price action as volumes across major exchanges declined.
The lack of direction reflects broader conditions across global markets. U.S. equity indexes were mixed, Treasury yields held near recent highs with the 10-year yield around 4.2%, and the U.S. dollar index showed little movement. With no clear signal from traditional markets, crypto traders appeared reluctant to take aggressive positions.
Institutional activity remained subdued. Data tracking exchange flows and ETF movements pointed to stable but modest participation, suggesting large investors are maintaining exposure without adding new risk. Analysts said this pattern aligns with a market waiting for clarity on interest rates, inflation trends, and central bank policy.
Altcoins also struggled to gain traction. Most major tokens posted small intraday moves, underperforming Bitcoin as traders favored liquidity and capital preservation. Market breadth narrowed, with gains concentrated in a limited number of large-cap assets.
Volatility across crypto markets continued to decline, with both realized and implied measures near multi-month lows. The compression has reinforced expectations that a larger move may eventually emerge, though timing remains uncertain.
For now, crypto markets remain anchored to macro developments rather than internal catalysts. Until clearer signals emerge from policymakers or economic data, traders appear content to stay defensive and let prices drift.
