Bitcoin fell on Friday, ending the week down amid profit-taking and growing concerns about US trade tariffs and interest rates. This was reported by investing.com, writes UNN.
Details
All attention is now focused on the upcoming release of US non-farm payroll data — they are expected to provide additional signals about the state of the American economy.
As of 08:45 Moscow time, Bitcoin fell by 2.5% to $115,540.9. The world's largest cryptocurrency is preparing to end the week down by approximately 2%, as it failed to maintain momentum after record highs in mid-July.
The large purchase of Bitcoin by Strategy — a leading corporate owner of BTC — had almost no effect on the price increase this week.
Bitcoin falls due to reduced risk appetite amid US tariff policy
Bitcoin's Friday decline came after US President Donald Trump signed an executive order on Thursday introducing new trade tariffs on a number of US partners. The duties will come into effect in seven days — slightly later than the previously set deadline of August 1.
However, markets are still awaiting greater clarity on the imposed duties, especially given that Washington concluded several trade agreements with key global economies at the last minute.
Trump's tariff policy has been named a major source of uncertainty for the Federal Reserve (Fed), which earlier this week stated that it would not change interest rates until the impact of tariffs on inflation becomes clear.
The Fed's comments also dampened risk appetite this week, putting pressure on the crypto market.
Although the tariffs themselves do not directly affect cryptocurrencies, they negatively affect overall investor sentiment, which is reflected in speculative assets such as Bitcoin.
At the same time, the prolonged maintenance of high rates creates direct pressure on Bitcoin, as it reduces the attractiveness of risky investments.
Cryptocurrency prices: altcoins fall ahead of labor market data
The broader crypto market is also showing a decline — most assets lost ground on Friday, and the week promises to end with significant losses amid cooling risk appetite and profit-taking.
Expectations of a key US employment report are putting additional pressure, as this data is likely to influence the Fed's further actions on rates. If the labor market remains strong, the Fed will have less reason to quickly lower rates.
Among altcoins:
- Ethereum (ETH) fell 4.4% to $3,688.0 and was down 1.3% for the week.
- XRP fell 4.8% to $2.9914, a weekly decline of 5.8%.
- Solana (SOL) and Cardano (ADA) lost about 6% for the day, and 7% to 11% for the week.
Among memecoins:
- Dogecoin fell 6.6%,
- $TRUMP — by 5.8% (and by 12.4% for the week).