Bitcoin Aims to End Five-Week Weekend Losing Streak
Bitcoin (BTC) attempted a rally in early U.S. trading on Friday, but the upward momentum quickly faded, raising concerns about whether traders are reducing exposure ahead of the weekend.
Standard Chartered’s Geoff Kendrick noted that Bitcoin has now seen five straight weekends of losses, with declines measured from 5 p.m. ET on Friday through Sunday evening.
Market jitters over DeepSeek AI developments and former President Donald Trump’s tariff threats have contributed to the recent downward trend.
“This kind of weekend weakness is unusual,” Kendrick pointed out, adding that throughout 2024, major price swings typically occurred on Mondays and Fridays rather than over the weekend.
Friday’s Volatile Session
Bitcoin briefly climbed 1.5% to $97,600 earlier on Friday after U.S. retail sales data for January came in well below expectations. The weak report fueled speculation that the Federal Reserve could move forward with interest rate cuts in the first half of the year.
However, the rally quickly lost steam, with Bitcoin slipping back to $96,400, erasing its gains.
Traders anticipating the weekend should also keep in mind that U.S. markets will be closed on Monday for Presidents’ Day, extending the potential period of lower liquidity and volatility.
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