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Bitcoin dips to $66K, heads for 4th straight week of losses
Bitcoin traded around $66,000 on Friday, extending recent weakness and heading toward a fourth consecutive weekly decline as investors remained cautious amid broad risk-asset softness and ahead of key U.S. inflation data due later in the day.
The world’s largest cryptocurrency was down 1.1% at $66,464.6 as of 07:24 GMT, after slipping to lows near $65,000 in the previous session.
Bitcoin is set to lose nearly 6% this week — marking a fourth straight weekly drop. The token struggled to build sustained upward momentum after bouncing from prior lows, retreating toward last week’s support around $60,000.
Bitcoin restrained amid global tech selloff and caution ahead of U.S. data
Risk aversion spread across financial markets: Wall Street tech stocks fell the previous day, and Asian equities wobbled on Friday as broader selling pressure weighed on sentiment.
Concerns around artificial intelligence resurfaced on Thursday, with heavy selloffs in software and IT stocks as investors questioned how automation and new AI tools could disrupt traditional business models and revenue streams.
A key focus for markets on Friday is the U.S. Consumer Price Index (CPI) report, expected to provide fresh insight into inflation trends and the outlook for Federal Reserve rate policy.
Earlier this week, strong U.S. labor market data showed solid job growth and falling unemployment, reducing hopes for imminent rate cuts.
The report also tempered market optimism and contributed to subdued trading in Bitcoin and other speculative assets.
Crypto executives join Innovation Advisory Committee of the Commodity Futures Trading Commission
The Commodity Futures Trading Commission appointed several leading crypto company executives to its newly formed Innovation Advisory Committee, underscoring the agency’s expanding role in overseeing digital asset markets.
The committee includes Brian Armstrong of Coinbase, Brad Garlinghouse of Ripple, Vladimir Tenev of Robinhood, and Hayden Adams of Uniswap Labs.
The committee will advise on emerging technologies such as blockchain and artificial intelligence and their interaction with derivatives and crypto markets.
This move comes as U.S. authorities work to clarify regulatory oversight of digital assets, with the CFTC expected to play a central role in shaping future crypto market rules.
Crypto prices today: altcoins slip amid broader risk-off mood
Most altcoins also traded moderately lower on Friday.
Ethereum, the world’s second-largest cryptocurrency, fell 1.3% to $1,944.76.
XRP, the third-largest cryptocurrency, dropped 1.7% to $1.35.
Solana fell 2.3%, Cardano edged lower, while Polygon jumped 4%, bucking the trend.
Among meme tokens, Dogecoin traded largely unchanged.
See also: "Almost no one bought bitcoins in January except Strategy"
