Investing.com– Bitcoin fell on Friday and was set for steep losses this week as heightened concerns over slower U.S. interest rate cuts and potential coin sales by the government eroded sentiment towards crypto.
Crypto markets also largely tracked a downturn in broader risk-driven markets, as traders pivoted into safe havens such as and the dollar amid heightened economic uncertainty.
The world’s biggest cryptocurrency was also subject to profit-taking after tripling in value through 2024. Broader crypto prices also fell in tandem with Bitcoin.
fell 0.6% to $93,925.0 by 00:56 ET (05:56 GMT). The coin had briefly fallen as low as $92,474.1.
Bitcoin heads for weekly losses
Bitcoin was trading down about 4.4% this week, its worst performance since late-September.
In addition to a broader risk-off sentiment, Bitcoin was also pressured by reports that the Department…
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