Bitcoin (BTC) climbed back to $88,000 on Friday, getting a boost from an unexpected disclosure that Taiwan's Ministry of Justice holds BTC, alongside news that the Senate confirmed crypto-friendly nominees to key positions. But before you get too excited, the rally is running into some serious headwinds.

The numbers from Thursday paint a less optimistic picture. Bitcoin ETFs hemorrhaged $161.3 million in net outflows, while Ethereum (ETH) ETFs weren't far behind with $96.6 million heading for the exits.

Fighting the Ceiling

Trader Michael van de Poppe pointed out that Bitcoin keeps banging its head against the $88,500 resistance zone, only to get pushed back down repeatedly over the past several days. The good news? Fridays typically see corrective moves, and macro-economic data suggest a positive outlook, which could help BTC finally break through in the coming days.

But crypto trader Altcoin Sherpa isn't mincing words about the current environment. He warned that Bitcoin's price action right now is the kind that chops traders up and takes all their money. His advice? Stay cautious and don't get too clever.

Ethereum Tests Critical Support

Over in Ethereum land, Crypto Rand noted that ETH is bouncing right at the $2,800 support level, creating what he calls a "key squeeze on main downtrend channel." The big question: is this finally showing signs of a breakout, or just another fake-out?

Solana (SOL) is having an even rougher time. Ted Pillows highlighted another low for Solana treasury companies that still can't find a bottom, marking this as a major reason why Solana is massively underperforming the broader crypto market.

XRP Flashes Buy Signal

Chart analyst Ali Martinez spotted XRP (XRP) flashing a buy signal on the TD Sequential Indicator, even as Spot XRP ETFs have accumulated $1.14 billion in net assets. Still, XRP continues lagging behind the broader market bounce.

Here's where the major cryptocurrencies stand:

Meme Coins Go Quiet

The meme coin market is holding relatively steady, down just 0.5% over the past 24 hours. But the calm might be deceiving. Chart analyst Ali Martinez noted that Dogecoin (DOGE) whales have been silent for four weeks straight, with no significant buying or selling activity to speak of.

The crypto market seems stuck in a strange limbo right now. Bitcoin is bouncing but can't break through, Ethereum is testing make-or-break support levels, and the meme coin whales are sitting on their hands. Whether this resolves with a breakout or another leg down might depend on whether those macro tailwinds can overcome the technical resistance and those persistent ETF outflows.