Bitcoin becomes positive, but he still goes for his worst week since 2022 ftx collapse

Bitcoin It became positive on Friday after the last index of prices of personal consumption expenses entered into line with expectations, after falling below the level of $ 80,000 during the night for the first time in three months.

The price of Bitcoin was higher by 1% to $ 84,148.34, according to Coin Metrics. Previously, it fell as low as $ 78,226.23.

Even so, the blue chip currency fell more than 11% during the week, to the rhythm for its worst week from the collapse of 2022 FTX. He also headed for his worst month since June 2022.

A broader risk movement this week hit Bitcoin at its lowest levels in three months and put it more than 25% of its historical maximum, reached the day of the inauguration of President Donald Trump. Investors have been preventing assets from being risky given the weakness in world capital markets and in the midst of the uncertainty surrounding the policy and tariff resolutions of the new president to the Russia-Ukraine and Israel-Gaza wars.

There could be more of the same in the new month ahead, and Bitcoin is expected to be at the mercy of the macro concerns of investors despite their strong regulatory tail winds.

Bitcoin decreases this week have triggered a wave of long liquidations, of approximately $ 397 million in the last 24 hours, according to Coinglass. These merchants force their assets to sell at the market price to resolve their debts and help further boost the price of the asset.

In addition, the funds exchanged by Exchange that track Bitcoin are aimed at a record record of departures, which are at $ 2.7 billion from the closure of Thursday’s market.

However, investors have found a positive side in Bitcoin Relative Force Index (RSI)An impulse indicator used to measure the overcompra or overall conditions, which fell to 25 on Friday, which gives some investors the hope that Bitcoin can find a fund in March. A value of less than 30 generally indicates that an asset is oversight.

The feeling of investors this week was also attributed by the news that Bybit, an important cryptocurrency exchange, suffered a trick of $ 1.5 billion in what is estimated to be the largest cryptomonitator in history.

Even so, the Bulls crypto remain positive in Bitcoin’s perspective while waiting for key regulatory developments of the Trump administration. Geoffrey Kendrick, head of Digital Assets Research at Standard Chartered, said he still expects Bitcoin to exceed the threshold of $ 200,000 this year despite the current setback, which several analysts warn could deepen $ 70,000.

Elsewhere, Coinbase and Robinity increased 3.5% and 2.7%, respectively, and shares of Microstrategy won 6.5%.

Token tied to Solana, which has become the host of the meme, including the Official Trump Meme Currency – 6% jumped after the SD on Thursday night said he does not consider meme Couns Counse Staudities. However, the currency has still dropped 36% for the month.

—CNBC Nick Wells and Ryan Browne contributed to this report

Correction: This article has been updated to reflect the percentage of day decrease in the price of Bitcoin.