Bitcoin price today: dips to $84k amid uncertainty over interest rates, tariffs
, News.az reports citing Xinhua.
Bitcoin fell slightly on Friday, tracking declines in broader risk-driven assets as uncertainty over U.S. interest rates and higher trade tariffs kept traders largely averse towards crypto markets, News.az reports citing Xinhua.
Broader crypto prices also retreated, with XRP- giving up some of its gains made on the Securities and Exchange Commission dropping its case against issuer Ripple. World no.2 crypto Ether fell below key levels after a short-lived recovery this week.
Bitcoin and most other cryptocurrencies saw some relief this week, but were still nursing sharp declines so far in 2025 as risk appetite was decimated by heightened economic uncertainty. Crypto-friendly measures from U.S. President Donald Trump also garnered little enthusiasm.
The world’s biggest cryptocurrency fell 1.7% to $84,424.5 by 01:32 ET (05:32 GMT).
Bitcoin pressured by rates, tariff uncertainty
Losses in Bitcoin and broader cryptos came largely in tow with Wall Street, as risk appetite remained weak.
Traders were seen scaling back bets on any interest rate cuts by the Federal Reserve in the near-term, especially after the central bank kept rates steady this week and signaled heightened uncertainty over the U.S. economy.
The Fed forecast higher inflation and sluggish growth in 2025, while also flagging uncertainty over the impact of Trump’s tariff policies.
Trump had earlier in March flip-flopped on plans for tariffs against Canada and Mexico, but has kept up his threats of imposing reciprocal tariffs against major trading partners by early-April.
Trump also repeatedly called on the Fed to cut interest rates, although the central bank has signaled little intent to do so in the near-term. The dollar firmed on Thursday and Friday, recouping all losses made in the immediate aftermath of Wednesday’s Fed decision.
Increased economic uncertainty weighed heavily on crypto prices, given that speculative assets tend to underperform in times of increased economic strife.
Crypto price today: Altcoins see short-lived rebound, track Bitcoin lower
Broader crypto prices also retreated on Friday after a short-lived rebound earlier this week. World no.2 crypto Ether fell back below $2,000, coming back in sight of lows last seen in 2021.
XRP was among the better performers this week, and was headed for a 0.8% gain. But the crypto was trading well below a near two-week high hit this week, after the SEC dropped its long-running case against issuer Ripple.
The SEC decision was widely expected, as Trump overhauled the agency’s leadership with pro-crypto picks. The SEC had earlier dropped cases against exchanges Coinbase (NASDAQ:COIN) and Kraken.
Other altcoins also retreated on Friday, and were set for a middling week. Cardano fell 1.6%, while Solana and Polygon fell 4.5% and 3.1%, respectively.
Among meme tokens, Dogecoin shed 2.9%, while $TRUMP fell 3%.
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