Bitcoin slipped under $91,000, while Ethereum and Solana dropped 1.5%.
Crypto markets ticked lower on Friday, Jan. 9, as new U.S. labor data showed the economy added far fewer jobs than expected in December.
Bitcoin (BTC) is trading near $90,927, down 1% over the past 24 hours, while Ether (ETH) changes hands around $3,095, down roughly 1.5% on the day.
Among other large-cap tokens, XRP fell 3% to $2.09, though it remains up about 5.3% over the past week. BNB rose 0.7% to around $895, while Solana (SOL) slipped 1.6% to $137, according to The Defiant’s price page.
Total cryptocurrency market capitalization stood at roughly $3.19 trillion, down 0.6% over the past 24 hours, while total trading volume fell to around $109 billion, according to CoinGecko.
POL (ex-MATIC) led today’s gainers, rising about 14%, while pumpfun (PUMP) added 9% and Cosmos Hub (ATOM) climbed roughly 5%. On the downside, Midnight (NIGHT) fell 10%, World Liberty Financial (WLFI) dropped nearly 8%, and Canton (CC) slid about 7%.
Liquidations and ETF Flows
About $189 million in leveraged positions were wiped out over the past 24 hours, according to Coinglass. Long positions accounted for roughly $105 million, while short liquidations totaled about $84 million.
Bitcoin recorded the largest share of liquidations at around $55 million, followed by Ethereum with $46 million. Elsewhere, Solana recorded about $12 million, while XRP and Zcash each saw around $10 million and $4 million, respectively.
In the exchange-traded fund (ETF) space, flows remained mixed. Bitcoin spot ETFs recorded nearly $399 million in outflows on Jan. 8, while Ethereum spot ETFs posted about $159 million in net outflows.
By contrast, XRP and Solana spot ETFs bucked the trend. XRP spot ETFs recorded $8.7 million in inflows, while Solana spot ETFs added about $13.6 million.
“The flow pattern suggests tactical balance-sheet management ahead of macro catalysts, not a breakdown in the longer-term allocation case,” said Iliya Kalchev, Nexo Dispatch analyst, in comments shared with The Defiant. “For now, Bitcoin is behaving like an asset waiting for permission – with macro clarity, not crypto-specific news, likely to determine whether it can reclaim higher ground.”
Macro Developments
Friday’s downturn comes as fresh U.S. labor data showed further signs of a cooling job market. The economy added just 50,000 jobs in December, according to the Bureau of Labor Statistics, marking the weakest monthly gain of 2025.
Meanwhile, the unemployment rate edged lower to 4.4%, down from a revised 4.5%, suggesting slower hiring. This comes after job openings fell more than expected in November, per the latest JOLTS data.
Looking ahead, Kalchev said attention will shift to a “dense macro calendar that is likely to determine whether Bitcoin can challenge the $95,000 level again or remain range-bound.”
Key events next week include a U.S. 10-year Treasury auction on Monday, CPI data on Tuesday, and retail sales figures on Wednesday.
