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Bitcoin slipped on Friday, capping a weak week as easing tensions over Greenland and a major corporate purchase failed to revive appetite for cryptocurrencies.
The world’s largest digital asset fell 0.5% to $89,517 in early Asian trade, and was on track for a weekly decline of about 5%. Any brief lift earlier in the week, after President Donald Trump softened his stance on Greenland, quickly faded.
Markets instead gravitated toward traditional safe havens. Gold and other precious metals surged to fresh record highs as investors sought physical assets amid lingering geopolitical risks and Trump’s warning of possible military action against Iran. Bitcoin, by contrast, continued to lag.
Even Strategy’s disclosure of a $2.1 billion Bitcoin purchase offered little support. While the firm remains the largest corporate holder of the asset, its aggressive accumulation strategy has increasingly become a source of concern, with investors questioning its sustainability during prolonged price weakness.
Sentiment was also dented by the delay of a long-awaited U.S. crypto regulation bill after opposition from Coinbase, keeping policy uncertainty high.
Retail demand remained subdued, particularly in the United States. The Coinbase Bitcoin premium index has shown Bitcoin trading at a consistent discount versus global prices since mid-December, signaling weak participation in the world’s largest crypto market as capital continues to favor technology stocks tied to artificial intelligence.
Altcoins mirrored Bitcoin’s softness and were set for steeper weekly losses. Ether dropped 2.4% and was down more than 11% for the week, while XRP, BNB, Solana, and Cardano all posted declines ranging from mid-single digits to around 10%. Dogecoin and $TRUMP also edged lower.
Overall, crypto markets struggled to regain momentum, overshadowed by surging demand for traditional safe havens and persistent doubts about near-term recovery.
