Bitcoin’s price has finally steadied after a volatile week triggered by escalating geopolitical tensions between the US and the EU, but it remains under $90,000. Last weekend, BTC traded above $95,000, fueled by early 2026 optimism. However, when the US announced new potential tariffs if EU nations failed to reach an agreement over Greenland, the cryptocurrency came under pressure.
As the situation developed, BTC fell steadily after Monday’s Asian and futures market opens, dropping first to $92,000. Bears continued to dominate, pushing Bitcoin below $90,000 and eventually to a multi-week low of $87,200 by Wednesday, coinciding with Trump’s speech in Davos. Following his clarification that force would not be used to take control of Greenland and hints of ongoing negotiations with Denmark, Bitcoin bounced back above $90,000 briefly but then settled around $88,000. By Friday, it tested $91,000 yet could not maintain momentum and currently remains under $90,000. Its market capitalization sits below $1.8 trillion, and its dominance over altcoins stands at 57.5%.
Altcoins have been more dynamic, showing notable gains amid Bitcoin’s stagnation. Hyperliquid (HYPE), which had been in free-fall for about a week, rebounded strongly with an 11% increase, trading at $23. However, HYPE is still down over 7% for the week. RIVER was another standout, posting a massive 32% daily surge and entering the top 100 cryptocurrencies. MYX also made notable gains, rising 12% to $6.50 over the past 24 hours.
Other major altcoins showed mixed performance. Ethereum continues to struggle below the $3,000 mark despite a small 1% gain, XRP remains under $2, and BNB is trading beneath $900. Meanwhile, assets like XMR and CC have posted strong gains, and WLFI also saw notable upward movement. In contrast, TRX experienced daily losses, reflecting the uneven performance across the market.
Despite the swings, the total cryptocurrency market capitalization has held firm just above $3.1 trillion, showing resilience in the face of both geopolitical tension and recent volatility. Analysts note that HYPE and other altcoins could continue to see sharp moves as the market digests these fluctuations, while Bitcoin remains the anchor of the market, struggling to reclaim its previous highs.
