Bitcoin was virtually unchanged on Monday, stabilizing after a sharp drop last week when concerns about slowing U.S. economic growth and impending trade tariffs dampened appetite for riskier assets.
Wider cryptocurrency prices rose slightly but also recovered after last week's risk-off retreat, while some profit-taking elements remained in play.
Bitcoin rose by 0.1% to $114,310 by 16:37 Moscow time.
Recent purchases by large corporate holders have done little to stem Bitcoin's losses, which have fallen nearly 3% over the past five days.
Bitcoin is shaken by weak employment data and uncertainty over tariffs.
Bitcoin fell along with Wall Street on Friday after the non-farm payroll data for July came in significantly weaker than expected.
These figures heightened concerns about the cooling of the U.S. economy, as did the sharp downgrade in job growth estimates over the past two months.
President Donald Trump fired Labor Statistics Bureau head Erica McEntarfer shortly after the data was released, which also raised some concerns about the future reliability of U.S. economic data.
Although weak employment data intensified bets on a rate cut by the Federal Reserve, they also highlighted the rapid cooling of the U.S. economy, given the importance of the labor market.
Heightening economic uncertainty, Trump's tariffs against several key trading partners are set to take effect this week, which could potentially trigger additional economic disruptions.
Although Bitcoin and cryptocurrencies do not experience direct impacts from trade tariffs and labor market cooling, the resulting changes in sentiment affect the prices of speculative assets. However, lower rates in the long term could benefit Bitcoin.$BTC #BTC走势分析 #BinanceSquareFamily #Squar2earn
