$BTC
Despite $1 billion in spot BTC ETF inflows, Bitcoin fell 2.8% as the market digested a multibillion-dollar 2011-era wallet transfer.
US import tariffs and fiscal deficits are likely weighing on Bitcoin investor sentiment.
Bitcoin
$108,017
traded down to $107,400 on Friday after facing a strong rejection near the $110,500 level on Thursday. The drop coincided with $1 billion in net inflows into spot Bitcoin exchange-traded funds (ETFs) over two days. Traders are now scrambling to justify the 2.8% pullback, despite BTC having hovered around $107,400 for most of the prior week.
This decline could simply reflect profit-taking ahead of the weekend, particularly since Bitcoin was just 1.5% below its all-time high. Investors remain wary of the potential negative effects of a global trade war, especially after US President Donald Trump reaffirmed the Wednesday deadline for increasing import tariffs.
