Bitcoin traded largely unchanged in Asian markets on Friday, after its early-year rebound lost momentum this week. Investor attention remained firmly on upcoming U.S. nonfarm payrolls data, which is expected to provide clearer signals on the future path of interest rates.
Broader risk appetite stayed subdued as rising global geopolitical uncertainty continued to pressure crypto markets, keeping traders cautious toward risk-sensitive assets.
Bitcoin was last up 0.2% at $90,946.4 by 00:34 ET (05:34 GMT).
Bitcoin Set for Quiet Week as Geopolitical Risks Weigh
Bitcoin was on track for a modest weekly gain of about 0.4%, after failing to extend its New Year recovery amid escalating geopolitical tensions.
The world’s largest cryptocurrency struggled to reclaim the $95,000 level this week, instead trading in a narrow range as investor confidence weakened.
Geopolitical uncertainty was a key drag on sentiment, particularly surrounding the United States’ actions in Venezuela. Markets reacted cautiously after Washington captured Venezuelan President Nicolas Maduro during a weekend incursion.
U.S. President Donald Trump later signaled that Washington plans to exert control over Venezuela’s oil production in the coming years, though details on implementation remain unclear.
Tensions in Asia also added to market unease. Diplomatic friction between China and Japan intensified after Beijing announced new economic measures targeting Tokyo. Relations remain strained following late-2025 remarks by Japanese Prime Minister Sanae Takaichi regarding potential military intervention in Taiwan.
Spot Bitcoin ETFs See Continued Outflows
Cautious sentiment spilled over into institutional flows, with U.S.-listed spot Bitcoin exchange-traded funds recording a third straight day of net outflows.
More than $1 billion was withdrawn from spot Bitcoin ETFs over the three days leading up to January 8, according to data from SoSoValue. The pullback marked a reversal from inflows seen earlier in the year and coincided with Bitcoin’s recent price consolidation.
Altcoins Mixed Ahead of U.S. Payrolls Data
Broader crypto markets remained range-bound on Friday, as traders waited for the release of December’s U.S. nonfarm payrolls report later in the day. The data is widely expected to influence long-term expectations for U.S. interest rates.
Ether rose 0.4% to $3,119.32, while XRP climbed 1.2% to $2.1338. XRP outperformed this week, gaining around 5% on signs of a potential supply squeeze across major exchanges.
Solana stood out with a 5% rise on Friday and was on track for a similar weekly gain. Cardano added 1.1% and was set for a 1.6% weekly increase, while BNB advanced 2% on the day and 2.2% for the week.
Among meme tokens, Dogecoin was flat, while the $TRUMP token rose 1.5%.
Polygon surged more than 17% after Polygon Labs announced a new framework aimed at supporting stablecoin-based payments.
