#BTC Bitcoin has remained virtually unchanged in price on Thursday, while the broader cryptocurrency market also stayed within a sideways range, as concerns over rising U.S. trade tariffs kept investors on the sidelines.

The reciprocal trade tariffs imposed by U.S. President Donald Trump came into effect on Thursday, imposing duties of 10% to 50% on the world's largest economies. On Wednesday, Trump also announced a 100% tariff on all semiconductor imports, which will take effect in the coming weeks.

Bitcoin rose by 0.3% to $114,521.4 at 09:31 Moscow time.

Bitcoin in a sideways range due to tariffs and economic concerns

The world's largest cryptocurrency mostly remained within a trading range between $115,000 and $110,000 over the past week as risk appetite deteriorated.

Although Bitcoin received some positive signals – mainly due to sustained buying from large corporate holders such as Strategy (NASDAQ:MSTR) and Metaplanet Inc (TYO:3350) – it was not enough to drive prices higher, which are in a steady downtrend after reaching record highs above $123,000 in mid-July.