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Bitcoin Prices
Bitcoin slipped slightly on Friday, falling 0.3% to $116,879.6 by 01:43 ET (05:43 GMT), trimming gains after a recent rally driven by optimism over U.S. interest rate cuts. Despite the decline, the token was still set for a weekly gain of 0.9%.
Corporate buying—most notably from major treasury holders—did little to support momentum, while the U.S. SEC’s approval of streamlined rules for crypto exchange-traded products also failed to spark significant price action.
Fed’s Impact and Cooling Optimism
Bitcoin initially benefited earlier this week from the Federal Reserve’s 25 basis point rate cut, which had been widely anticipated. However, the Fed’s refusal to deliver deeper cuts, citing sticky inflation and risks of higher consumer prices, dulled market enthusiasm. A cooling U.S. labor market also added to concerns about the broader economy, limiting speculative appetite.
BOJ’s Hawkish Signal Weighs on Sentiment
Adding to the cautious mood, the Bank of Japan kept interest rates unchanged but announced plans to begin selling ETFs and REIT holdings. Although expected, the move was interpreted as hawkish tightening, raising speculation that a potential rate hike in October remains on the table. This pressured risk-driven assets, including cryptocurrencies.
Altcoins Performance
Broader crypto markets were mixed:
Memecoins such as Dogecoin and $TRUMP dropped over 1% each.
Ether (ETH) fell 0.8% to $4,532.68, flat on the week.
XRP slid 1% to $3.0404, down nearly 2% for the week.
BNB steadied at $992.90, set to gain more than 6% weekly after hitting a fresh record high above $1,000 on Thursday.
Cardano and Solana posted marginal gains.
