Bitcoin, Cryptos Are In Consolidation Mode. This Can Be the Next Catalyst.

By Elsa OhlenCryptocurrency prices were mixed to start Thursday as Bitcoin hovered around $95,000.Technical analysts say cryptos are in a consolidation mode, and the global economy needs a positive catalyst for prices to break out of it.Bitcoin was up 0.4% to $95,048 over the past 24 hours, according to CoinDesk data. Ether and Solana rose 1% and 2%, respectively, while XRP fell 1%.The Bitcoin price holding steady for the past few days is forcing the market to watch for the next move, said FxPro analyst Alex Kuptsikevich. "Such long consolidations usually accumulate strength for further movement."Cryptos often respond to macroeconomic events such as interest rates and trade policy, and prices suffered as a result of economic uncertainty prompted by President Donald Trump's tariffs.Prices initially fell on weaker-than-expected U.S. GDP data Wednesday but quickly edged back up again. The next major trigger is likely Friday's jobs report.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.