Bitcoin and other major cryptocurrencies are in the red Friday, with top coins falling to their lowest prices in at least a week as stock markets are similarly rattled by hotter-than-expected inflation data.
The price of Bitcoin dipped to $83,609 early Friday afternoon, and is currently down about 4% on the day at a current price of $83,736. It’s down just 0.4% on the week, but the Friday slide has cooled rising momentum seen in recent days.
Other top coins have shown sharper losses over the past day, however, with Ethereum down 6% to $1,875 and XRP falling about 7% to $2.17. Both fell to weekly lows on Friday alongside Bitcoin.
Solana and Dogecoin are also in the red Friday, down 6% and 4.5% respectively over the past day, though both coins remain up over the last week.
Amid the declines, crypto liquidations have surged over the past day, tallying more than $450 million as of this writing per data from CoinGlass. Long positions make up the bulk of the carnage at $402 million, and Ethereum is the biggest contributor to liquidations with $136 million worth in total. Bitcoin is next at $118 million.
Both the Dow and S&P 500 indices are down more than 2% Friday, with traders reacting to continued inflation fears and the impact of Trump’s ever-evolving trade tariffs on other nations. The Personal Consumption Expenditures Price Index (PCE) rose 0.4% in February, as reported Friday—a higher market than expected and the biggest monthly leap in more than a year.
Nvidia’s stock is down about 1.5% on the day, while the Nvidia-backed cloud computing firm CoreWeave—which began trading Friday—is down by about 1% as of this writing.
But crypto stocks are taking much harder hits than the broader markets, with Strategy (MSTR) down about 10% on the day and Coinbase falling by nearly 7% as of this writing.
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Source: https://decrypt.co/312163/bitcoin-ethereum-xrp-weekly-lows-liquidations
