Bitcoin declined on Friday, rounding out a weak week as easing tensions between the U.S. and Greenland, along with a major purchase by Strategy Inc, failed to revive demand for cryptocurrencies.
Risk appetite during Asian trading hours was also constrained by a policy meeting at the Bank of Japan, while remarks from U.S. President Donald Trump warning of possible military action involving Iran added to market caution.
At the same time, investors rotated toward traditional safe havens. Gold and other precious metals surged to fresh record highs as demand for physical assets increased, leaving Bitcoin trailing behind bullion.
The world’s largest cryptocurrency slipped 0.5% to $89,517.3 by 00:53 ET (05:53 GMT).
Bitcoin heads for weekly loss despite positive signals
Although Bitcoin briefly gained earlier in the week after Trump softened his tone on Greenland, those advances quickly faded, with prices drifting back toward one-month lows.
Bitcoin is now on track for a weekly decline of about 5%, showing little reaction to Strategy’s disclosure of a $2.1 billion Bitcoin purchase. In recent months, Strategy itself has become a point of concern for markets, as investors question the sustainability of its Bitcoin-focused treasury strategy amid prolonged price underperformance.
Sentiment was further pressured by delays to a long-anticipated U.S. cryptocurrency regulation bill. The proposed legislation lost momentum after Coinbase Global opposed the bill in its current form.
Retail interest in Bitcoin remained muted, particularly as strong gains in technology stocks—driven by enthusiasm around artificial intelligence—continued to attract the majority of investor inflows.
This weakness was also reflected in the Coinbase Bitcoin premium index, which tracks the difference between U.S. Bitcoin prices and the global average. The index has shown Bitcoin trading at a consistent discount in the U.S. since mid-December, signaling subdued retail demand in the world’s largest crypto market.
Altcoins slide, extending weekly losses
The broader cryptocurrency market moved lower alongside Bitcoin and is facing even steeper weekly declines.
Ether, the second-largest digital asset, dropped 2.4% to $2,946.35 and is on course for an 11.2% weekly loss. XRP fell 1.5%, while BNB edged down 0.1%, with both tokens set to lose between 6% and 8% over the week.
Solana and Cardano each declined 1.5%, bringing their weekly losses to around 10% apiece. Among memecoins, Dogecoin slid 1.3%, while $TRUMP fell 0.9%.
