"Crypto market in wait-and-see mode…Bitcoin fluctuates around $91,000, while altcoins weaken on the week"

Bitcoin (BTC) has shown a relatively stable trajectory after macro shocks, but broad weakness across altcoins has persisted, keeping risk aversion elevated across the crypto market.

According to CoinDesk, a crypto-focused media outlet, Bitcoin traded around $91,500 during Asian hours on the 20th, moving with little change from the previous day. After risk assets broadly wobbled on the back of remarks related to tariffs between the US and Europe the day before, the market appears to have entered a period of consolidation.

Ethereum continued to trade in a range near $3,200. By contrast, major altcoins such as Solana (SOL), XRP (XRP) and Cardano (ADA) were mixed intraday, but on a weekly basis posted relatively steep declines, extending their underperformance versus Bitcoin.

Market participants are focusing on the renewed tariff conflict alongside a strengthening preference for safe-haven assets. After President Trump’s remarks related to Greenland brought US-Europe tensions back into focus, prices of traditional safe havens such as gold and silver rose, while cryptocurrencies showed relatively subdued performance.

Fazam Essani Valr, chief executive officer (CEO), said, "With funds rotating into safe-haven assets, cryptocurrencies are still being traded like high-volatility risk assets." He added, "Unless signals of rate cuts or renewed institutional inflows are confirmed again, it will not be easy for Bitcoin to hold the upper range steadily."

Rising US Treasury yields are also acting as a headwind. With global bond markets weakening amid fiscal and geopolitical uncertainty, analysts say investor sentiment toward risk assets overall is being dampened.