Key Moments
- Bitcoin traded 0.7% lower at $64,471.4 by 09:46 ET (13:46 GMT), on track for a weekly loss of less than 1% after a brief rebound.
- Rising U.S.-Iran tensions, including Houthi attacks on two Saudi ships in the Red Sea, and new U.S. tariffs on 60 trading partners weighed on broader risk sentiment.
- Altcoins including Ether, XRP, Solana, Cardano, BNB, Dogecoin, and $TRUMP also declined, pointing to a softer week for the broader crypto market.
Risk-Off Mood Pressures Bitcoin
Bitcoin traded lower on Friday as investors pulled back from risk assets amid escalating U.S.-Iran military tensions and uncertainty surrounding a new round of U.S. trade tariffs.
The retreat in digital assets followed a broader move out of risk, with declines across equity markets, particularly in high-growth technology and artificial intelligence names, dampening demand for cryptocurrencies.
By 09:46 ET (13:46 GMT), Bitcoin was down 0.7% at $64,471.4. Despite the intraday weakness, the largest cryptocurrency was poised to lose less than 1% for the week, giving back part of the short-lived rebound seen earlier.
Geopolitics and Trade Policy Stoke Caution
Friday’s slide in Bitcoin came against a backdrop of heightened geopolitical and policy uncertainty.
The U.S.-Iran conflict appeared to broaden after Yemen’s Iran-backed Houthi group attacked two Saudi vessels in the Red Sea, raising the risk of further supply disruptions in oil markets.
Crude prices climbed 15% this week, fueling worries about energy-driven inflation that could prompt a more hawkish stance from global central banks.
Adding to the cautious mood, the Donald Trump administration announced new trade tariffs on 60 trading partners, deepening concerns over the prospect of a renewed global trade war. The levies are set to take effect from Friday.
While oil supply disruptions and tariff actions have no direct mechanical impact on Bitcoin, investors focused on their potential to slow economic activity and curb demand for speculative, higher-risk assets such as cryptocurrencies.
ETF Inflows Offer Some Support
Despite the risk-off tone, Bitcoin found some support from improved capital flows during the week. Spot exchange-traded funds recorded their strongest weekly inflow since early-May, according to data from SoSoValue, helping to cushion downside pressure.
Altcoins Track Bitcoin Lower
The pullback was not confined to Bitcoin, as major altcoins also traded weaker on Friday and pointed to a subdued weekly performance for the broader market.
| Asset | Move on Friday | Price |
|---|---|---|
| Bitcoin | -0.7% | $64,471.4 |
| Ether (World no.2 crypto) | -1.8% | $1,865.96 |
| XRP | -1.5% | $1.0954 |
| Solana | -2.8% | – |
| Cardano | -3.6% | – |
| BNB | -1% | – |
| Dogecoin | -2.1% | – |
| $TRUMP | -3.9% | – |
Ether, the second-largest cryptocurrency by market capitalization, declined 1.8% to $1,865.96. XRP was down 1.5% at $1.0954.
Among other major tokens, Solana and Cardano dropped 2.8% and 3.6%, respectively, while BNB slipped 1%.
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