Bitcoin (BTC) traded near $102,000 on Friday, struggling to recover from a week-long selloff that has seen the world’s largest cryptocurrency lose more than 7%. Persistent bearish sentiment continues to weigh on the broader crypto market, even as technical indicators point to potential consolidation. BTC faced strong resistance around a previously broken trendline on Monday, triggering an 8.18% decline through Tuesday. The selloff pushed the asset to retest the 50% retracement level near $100,353, where it found short-term support. A modest 2.35% rebound on Wednesday briefly lifted prices, but gains were largely erased the following day. As of Friday, Bitcoin hovered around $102,200, with traders assessing whether the digital asset could stabilise above key technical levels after one of its steepest weekly drops since early autumn. JPMorgan predicts Bitcoin could climb to $170,000 Despite recent weakness, JPMorgan analysts remain optimistic about Bitcoin’s medium-term outlook. In a new research note, the bank’s strategist Nikolaos Panigirtzoglou and his team said they expect Bitcoin to rise as high as $170,000 within the next 6 to 12 months, citing improving market structure and fading selling pressure. The team noted that the perpetual futures market, a key driver of short-term price swings, appears to have stabilized after weeks of forced liquidations. “The message from recent stabilisation is that deleveraging in perpetual futures is largely behind us,” the note said, suggesting a shift from correction to accumulation. JPMorgan’s price target is derived from a comparative valuation model that aligns Bitcoin’s performance with that of gold. The analysts said Bitcoin’s current valuation remains below its fair value when adjusted for risk relative to the precious metal, implying room for further upside as market conditions normalise. Ethereum and XRP find support after steep drops Ethereum (ETH) also showed signs of stabilisation following a sharp midweek decline. The cryptocurrency was trading around $3,300 on Friday after falling nearly 16% earlier in the week. ETH faced rejection at its 100-day exponential moving average (EMA) near $3,906 on Monday before sliding to test the 50% retracement level at $3,171. Although a mild rebound followed on Wednesday, the recovery stalled at a broken trendline the next day. Analysts said a sustained hold above $3,171 could open the door for a move toward the 61.8% Fibonacci retracement level around $3,593. Meanwhile, Ripple (XRP) continued to trade defensively near $2.22 after multiple failed attempts to break higher. The token fell 12% earlier in the week after being rejected near its 50-day EMA at $2.58. It recovered slightly midweek but again met resistance at $2.35, a key daily level. A close above $2.35 could allow XRP to retest the 50-day EMA near $2.58, though momentum remains fragile amid waning investor confidence across altcoins. Top gainers and losers Filecoin (FIL) rose about 55.96% in the past 24 hours to roughly $2.12, leading the list of top gainers. Internet Computer (ICP) gained about 27.70% over the same period, trading near $7.56 and ranking second among gainers. MYX Finance (MYX) advanced about 23.66% in 24 hours to around $2.46, placing third on the gainers’ board. Tezos (XTZ) increased about 21.88% to approximately $0.6480, taking the fourth spot among the top performers. Zcash (ZEC) climbed about 19.23% to around $597.11, rounding out the top five gainers. Among the day’s top losers, ZKsync (ZK) fell about 7.51% in 24 hours to roughly $0.06649, topping the list. Aster (ASTER) declined about 6.63% to near $1.02, ranking second among losers. DoubleZero (2Z) dropped about 6.14% to around $0.1651, placing third. OFFICIAL TRUMP (TRUMP) slid about 6.01% to $7.63, taking the fourth spot among decliners. XRP (XRP) decreased about 4.68% to approximately $2.22, rounding out the top five losers. The post BTC trades below $103K, XRP down 4%: why the crypto market remains stuck appeared first on Invezz
