Bitcoin traded mostly flat on Friday, hovering near the $87,000 level after moving within narrow ranges earlier in the week. Investors continued to assess weaker-than-expected U.S. inflation data, which reinforced expectations that the Federal Reserve could move toward interest rate cuts in the future.
The world’s largest cryptocurrency was last up 0.6% at $87,121.6 as of 01:52 ET (06:52 GMT).
Despite holding steady, Bitcoin is on course for a weekly decline of nearly 4%, extending a consolidation phase following strong gains earlier this year. Price action throughout the past week remained confined to a tight range, reflecting a lack of strong directional momentum.
Bitcoin remains rangebound
Bitcoin has struggled this month to reclaim levels above $90,000, a key psychological resistance point that has capped upside attempts. Each move higher has failed to gain sustained traction.
Low liquidity, typical of late-December trading conditions, has added to investor caution and reduced follow-through after brief rallies. Trading volumes have stayed muted, leaving prices sensitive to modest flows and reinforcing range-bound behavior.
Soft U.S. CPI fuels Fed easing expectations
Bitcoin showed little immediate response to Thursday’s U.S. consumer price index data, which came in below expectations, with annual inflation easing to 2.7%.
The softer inflation reading strengthened market expectations that the Federal Reserve could accelerate interest rate cuts in 2026. Interest rate futures now indicate rising bets on monetary easing early next year, as cooling price pressures give policymakers more flexibility.
Lower interest rates are generally supportive for risk assets, as they reduce the opportunity cost of holding non-yielding investments such as Bitcoin. However, in the absence of major crypto-specific catalysts, the inflation data alone was not enough to push prices decisively higher.
NYSE owner in talks to invest in MoonPay
Intercontinental Exchange Inc, the owner of the New York Stock Exchange, is reportedly in discussions to invest in crypto payments firm MoonPay as part of an upcoming funding round, according to a Bloomberg News report citing sources familiar with the matter.
MoonPay, which is based in New York, is said to be close to completing the fundraising and is targeting a valuation of around $5 billion. The talks underline growing interest from Wall Street in digital assets, supported by a more favorable U.S. political environment under President Donald Trump.
Altcoins track Bitcoin with muted moves
Altcoins largely mirrored Bitcoin’s subdued performance on Friday, showing limited price movement.
Ethereum rose 1.8% to $2,926.92, while XRP was little changed at $1.84. Solana and Cardano also traded flat, and Polygon slipped 1.1%.
Among meme tokens, Dogecoin and $TRUMP each gained about 1%.
