Bitcoin price today: stuck around $102K amid weekly decline

Bitcoin fell on Friday and is heading toward a significant weekly drop as volatile risk appetite—driven by a global tech stock selloff—keeps investors away from cryptocurrencies.

The world’s largest cryptocurrency is on track for its second consecutive week of losses, and has traded lower in four of the past five weeks, as crypto markets continue to struggle after a disappointing October performance.

Bitcoin dropped 0.8% to $102,294.3 as of 05:23 GMT. This week, the cryptocurrency officially entered a bear market, having fallen more than 20% from its record high in early October.

Bitcoin heads for weekly losses amid broad risk-off sentiment

Bitcoin is down nearly 8% for the week and remains in the red for the second week in a row.

The decline was driven by a broader risk-off move across markets, especially in equities. Concerns about overvalued tech stocks triggered a selloff in global markets this week, which also spilled over into crypto.

Economic uncertainty added further pressure, as the ongoing U.S. government shutdown disrupted major sectors of the economy and delayed key economic data releases.

Private payroll data released on Thursday showed a sharp increase in layoffs in October, boosting expectations that the Federal Reserve may cut interest rates at its December meeting.

Trump wants to make the U.S. a “Bitcoin superpower”

U.S. President Donald Trump said earlier this week that he wants the country to adopt Bitcoin and crypto technologies more actively, calling for U.S. leadership in the sector.

He highlighted several pro-crypto legislative acts passed under his administration and declared that “the regulatory war against crypto in the U.S. is over.”

“We’re making the United States the Bitcoin superpower, the crypto capital of the world,” Trump said, adding that America must maintain leadership over China.

The Trump administration introduced several crypto-friendly measures this year, including the creation of a national cryptocurrency reserve and a regulatory framework for stablecoins.
However, Trump stopped short of announcing any government purchases of digital assets.

Crypto prices today: altcoins fluctuate, heading for weekly decline

Broader crypto prices traded flat to lower on Friday, with most altcoins also posting weekly losses amid overall risk aversion.

• Ether (ETH) fell 0.9% to $3,357, down over 13% for the week. Earlier this week, ETH hit its lowest level since mid-July.
• XRP dropped 4.1%, down nearly 11% for the week.
• BNB rose 1.9% on Friday but remains down 12% for the week.
• Solana fell 0.8%, while Cardano gained 2%.
• Among meme tokens, Dogecoin rose 1.5%, while $TRUMP fell 5.5%.