$BTC Investing.com - Bitcoin fell on Friday, continuing a recent decline as the trend of profit-taking in the crypto markets shows no signs of slowing amid heightened uncertainty regarding trade and the U.S. economy.

Meme coins associated with President Donald Trump and billionaire Elon Musk suffered significant losses amid an escalating public feud between them. $TRUMP and Dogecoin led this trend.

The world's largest cryptocurrency dropped 1.6% to $102,965.7 at 05:58 Moscow time, having earlier fallen to lows below $101,000. The broader crypto market also mostly declined alongside Bitcoin.

Risk appetite was undermined by a sell-off on Wall Street, which was partly triggered by the feud between Trump and Musk.

Traders also remained on edge ahead of the release of key employment data expected later in the day, which is anticipated to show a continued cooling in the U.S. labor market.