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Bitcoin price today: struggles around $111,000
Bitcoin fell on Thursday, remaining under pressure after last week’s sharp drop, as persistent risk aversion amid renewed trade tensions between the U.S. and China weighed on cryptocurrency markets.
Crypto traders also remained cautious following $16 billion in long position liquidations last week and were reluctant to take large short-term bets.
Still, Bitcoin traded well above last week’s lows, gaining some relief from expectations of lower U.S. interest rates.
The world’s largest cryptocurrency fell 1.3% to $111,031.0 as of 12:10 p.m. (Moscow time), after dropping to $103,000 last week.
Bitcoin retreats as sentiment weakens after the crash
Bitcoin and broader cryptocurrency prices struggled to regain momentum this week following a record $16 billion in long liquidations during last week’s steep sell-off.
The collapse was largely triggered by U.S. President Donald Trump’s threats to impose 100% tariffs on China, which heightened market fears of a renewed trade war.
Washington and Beijing remained at odds this week — China vowed to fight any trade war, while U.S. officials called for further economic decoupling from China.
Bitcoin also remained vulnerable to profit-taking after reaching record highs above $126,000 earlier this month.
The CoinMarketCap Fear and Greed Index fell into the “fear” zone this week, signaling persistent caution in the market.
U.S. DOJ seizes $15 billion in Bitcoin from “pig butchering” scheme
The U.S. Department of Justice announced Wednesday that it had seized 127,271 Bitcoin worth roughly $15 billion in connection with a Cambodia-based crypto fraud operation.
The DOJ said it was the largest Bitcoin seizure in history.
Authorities charged Chen Zhi, founder and chairman of Prince Holding Group, with wire fraud and money laundering, describing his operations as a “criminal empire built on forced labor and deception.”
Federal prosecutors described the scam as a “pig butchering” scheme, in which fraudsters gain victims’ trust and lure them into fake investments.
The seizure marks the DOJ’s largest-ever Bitcoin confiscation, though it remains unclear how many of the coins are now held by the government.
Previously, the DOJ had sold portions of seized Bitcoin on public markets, but under a decree signed by Trump earlier this year, such assets will now be placed into a strategic Bitcoin reserve.
Crypto prices today: altcoins drop amid lack of positive catalysts
Broader cryptocurrency prices weakened alongside Bitcoin as traders stayed cautious toward short-term positions.
The world’s second-largest cryptocurrency, Ether, fell 2.8% to $3,996.47, while XRP dropped 3.7%.
BNB lost 1.3%.
Solana and Cardano fell 5.8% and 4.4%, respectively.
Among meme tokens, Dogecoin slid 4.2%, and $TRUMP declined 3.5%.
