Українська
Русский
English
Bitcoin Price Today: Holds at $114K After Sharp Drop
Bitcoin remained mostly unchanged on Monday, stabilizing after a sharp drop last week when concerns over slowing U.S. economic growth and impending trade tariffs curbed appetite for risk assets.
The broader cryptocurrency market posted slight gains but was also recovering from last week’s risk-off sentiment, while some profit-taking activity continued.
Bitcoin rose 0.6% to $114,268.8 by 09:25 (UTC+03).
Recent purchases by large corporate holders did little to contain Bitcoin’s losses, with the token down nearly 3% over the past five days.
Bitcoin Hit by Weak Job Data and Tariff Uncertainty
Bitcoin fell alongside Wall Street on Friday after U.S. nonfarm payroll data for July came in significantly weaker than expected.
The data heightened fears of a U.S. economic slowdown, as did the sharp downward revision of job growth figures for the previous two months.
President Donald Trump, shortly after the data release, fired Bureau of Labor Statistics head Erica MacEntarfer, raising concerns about the future reliability of U.S. economic data.
While the weak jobs report raised bets on potential interest rate cuts by the Federal Reserve, it also underscored the fast cooling of the U.S. economy, given the central role of the labor market.
Adding to the uncertainty, Trump’s tariffs targeting several major trade partners are set to take effect this week, potentially causing further economic disruptions.
Though Bitcoin and cryptocurrencies are not directly affected by tariffs or labor market data, shifts in market sentiment tend to impact speculative assets. However, lower interest rates in the long run could benefit Bitcoin.
Metaplanet Buys More Bitcoin
Metaplanet Inc (TYO:3350) announced Monday that it purchased an additional 463 bitcoins for about 17,268,320 yen ($116,975), bringing its total holdings to 17,595 coins.
The Japanese hotel company turned bitcoin treasury firm also stated on Friday that it plans to raise $3.7 billion in equity capital to buy more bitcoin.
Metaplanet is currently the seventh-largest corporate holder of bitcoin globally, trailing Trump Media & Technology Group Corp (NASDAQ:DJT) by roughly 200 coins.
Crypto Prices Today: Altcoins Rebound
The broader crypto market was positive on Monday, with major altcoins regaining some of last week's losses.
Ether, the world’s second-largest cryptocurrency, rose 2.4% to $3,527.01, while XRP jumped nearly 5% to $2.9712. Last week, both saw declines between 9–13%.
Solana gained 0.8%, and Cardano added 2.4%.
Among meme coins, Dogecoin rose 2%, and $TRUMP added 1.6%.
See also: "HashKey Group CEO: China Will Return to Crypto Through Stablecoins"
