Bitcoin Holds Near $94.7K Amid Tight Trading Range and Market Volatility

Bitcoin (BTC) traded near $94,700 late Wednesday, down just 0.4% in the past 24 hours, maintaining the week's trend of tight-range movement despite brief volatility. Earlier in the day, BTC dropped nearly 2% alongside a sharp decline in U.S. stock indices, though both markets later recovered.

Altcoins saw steeper losses before rebounding slightly. The CoinDesk 20 index fell 2%, with notable declines from Litecoin (LTC), Ripple (XRP), Avalanche (AVAX), and Chainlink (LINK), each shedding about 4%. Crypto equities followed suit, with bitcoin miner Hut 8 Mining Corp (HUT) underperforming, down 5.7%.

Traditional equities faced early pressure from underwhelming economic data, with major indexes plunging over 2%. However, the S&P 500 managed to close marginally higher, while the Nasdaq finished just 0.1% lower. Weak economic indicators failed to deter President Donald Trump, who remained firm on his tariff stance. "Maybe children will have two dolls instead of 30," Trump remarked Wednesday, addressing concerns over rising prices amid continued import restrictions. “Maybe the dolls will cost a couple bucks more.”

Despite the rebound in both crypto and equity markets, investor sentiment remains cautious. BTC has been largely rangebound in recent sessions, with traders watching for macroeconomic signals and regulatory developments to break the stalemate. Meanwhile, altcoin underperformance highlights lingering risk aversion in the broader crypto space.

As market participants await key U.S. data releases, Bitcoin’s resilience above $94K signals ongoing investor interest, even amid fluctuating sentiment across financial markets. Crypto volatility may persist, but the tight trading band indicates traders are holding positions ahead of the next major catalyst.