Bitcoin struggles to break above $100,000 as fears weigh on price

On Friday, the price of Bitcoin hovered around $97,700, as Ether, the world's second-largest cryptocurrency, moved to $2,751, according to CoinGecko .

The move follows a week of record trading volumes for Ether ETFs, which hit $1.5 billion earlier this week. However, despite this momentum, JPMorgan recently warned that Ether's underlying blockchain network faces "intense competition" from Solana and other networks.

Broader market trends also paint a more turbulent picture. “The cryptocurrency market has decreased by more than 11% over the past seven days,” said Alex Kuptsikevich, FxPro chief market analyst. Kuptsikevich attributed falling prices to the Trump administration’s threat of tariffs on Canada, Mexico, and China, causing the broader crypto market to slump to $3.15 trillion — a drop he called “a dip below the previous cyclical low.”

Some market watchers note that Bitcoin's price has been in a holding pattern and may stay that way until another major event shakes the market. “Potential triggers for a breakout include major regulatory announcements, technological advancements within the Bitcoin network, or macroeconomic changes affecting investor sentiment and events that can also greatly impact consumer sentiment, such as private speculator apathy,” said Unity Wallet COO James Toledano.

“ Cryptocurrencies like Bitcoin are hypersensitive to macroeconomic disruptions,” said Toledano. “Tariff announcements signal potential economic slowdowns, which reduces investor risk appetite and triggers sell-offs in both traditional and digital assets.”

The CoinMarketCap Fear and Greed Index stayed in the "fear" territory on Friday, as Bitcoin continues to faces strong resistance levels as it approaches $100,000.

Additionally, so-called "Bitcoin Treasury Company" MicroStrategy, now known simply as Strategy, reported $670.8 million net loss in the fourth quarter.