After a few days that might have instilled optimism in crypto traders, familiar fears crept in Friday amid hotter-than-expected inflation data and continued chaos caused by President Trump’s trade tariffs.
Bitcoin fell below $84,000, dropping 4% on the day and hitting a weekly low, with XRP and Ethereum similarly touching their lowest points in over a week. Stocks are broadly in the red on Friday, as well, as traders once more shift away from risk assets. Gold, meanwhile, touched a new all-time high price early Friday.
“Today's price action shows that investors are not ready for a long-term tariff engagement by the U.S.,” Mark Connors, chief investment strategist for Bitcoin investment advisory Risk Dimensions, told Decrypt. “Portfolio managers are taking risk off the table to fight another day, until the impact of tariffs have greater clarity.”
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“We've got to let everybody compete in this space.”
Rep Tom Emmer doesn’t want a stablecoin bill to punish non-U.S. firms
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