#TradingTypes101 Bitcoin has faced extended profit-taking this week after reaching a record level exceeding $111,000 last week.

Risk appetite has been significantly affected by conflicting signals regarding Trump's tariff plans. A court of appeals ruled on Thursday to temporarily allow the implementation of Trump's tariff agenda, after a federal trade court earlier this week ruled to block his tariffs.

Trump attacked the judges involved in the trade court decision, saying he hopes the Supreme Court will support his tariffs.

However, analysts warned that prolonged legal disputes over Trump's tariffs would only increase market uncertainty about their impact.

Concerns about the economic impact of Trump's tariffs have been a key factor putting pressure on risk-driven assets this year, especially as a range of economic data signals a weakening U.S. economy.

However, this notion was marginally countered by a revised reading of first-quarter GDP, which showed that the U.S. economy contracted slightly less than initially estimated.