Bitcoin edged higher on Thursday but struggled to reclaim the $90,000 level, as easing geopolitical tensions tied to U.S. demands over Greenland offered only limited support to cryptocurrencies. Digital assets lagged a broader rally in global equities, particularly technology stocks, which posted much stronger gains.
By 01:19 ET (06:19 GMT), Bitcoin was little changed at $90,001.7, highlighting the market’s hesitation despite an improved risk backdrop.
Bitcoin sees brief lift from Greenland de-escalation
Bitcoin rallied on Wednesday after U.S. President Donald Trump said he would not move forward with tariffs on Europe linked to Greenland and confirmed that a framework agreement had been reached. The comments initially boosted risk appetite across markets.
However, the world’s largest cryptocurrency failed to hold those gains, slipping back below $90,000 shortly after. This came even as risk-sensitive assets rallied and traditional safe havens such as gold weakened.
Crypto markets have remained under pressure since a late-2025 flash crash dampened investor confidence, particularly among retail traders. Sentiment has also been weighed down by concerns that prolonged weakness in Bitcoin prices could trigger selling from crypto treasury firms facing debt obligations.
Even a disclosure from Strategy Inc of a $2.13 billion Bitcoin purchase failed to meaningfully improve market sentiment. Data from Coinglass showed Bitcoin continuing to trade at a discount in U.S. markets, while delays to a key U.S. crypto regulation bill earlier this month added further uncertainty.
BitGo IPO highlights appetite for crypto equities
In contrast to subdued crypto prices, crypto-linked equities showed resilience. Crypto custody firm BitGo priced its U.S. initial public offering above expectations on Wednesday, raising $212.8 million at a valuation close to $2 billion.
The strong demand suggests investor appetite for crypto-related stocks remains firm after a strong 2025 for the sector. BitGo’s listing is expected to pave the way for other major crypto firms considering public debuts, with reports indicating that Grayscale and Kraken may target IPOs in 2026.
Altcoins edge higher despite recent weakness
Broader cryptocurrency prices moved modestly higher on Thursday, though most pared early gains. Many altcoins are still recovering from losses recorded in recent weeks.
Ether, the second-largest cryptocurrency, rose 1.3% to $3,018.71, while XRP gained around 2%. Solana, Cardano, and BNB advanced between 1.4% and 2%.
In the memecoin space, Dogecoin climbed 1.3%, while $TRUMP slipped 0.2% after breaking below a key $5 support level earlier this week.
