Bitcoin ended its streak of weekly gains, posting its first decline in months as the broader cryptocurrency market experienced renewed selling pressure. The world’s largest cryptocurrency dropped by 4% over the week, closing at $26,000, marking its most notable weekly retreat since its remarkable rally following Donald Trump’s election victory.
The downturn coincides with increasing uncertainty in global markets, where risk-on sentiment has waned due to concerns over rising interest rates and sluggish economic recovery. This bearish shift has impacted alternative assets like Bitcoin, which had benefitted from a wave of speculative buying earlier in the year. Analysts also point to regulatory uncertainties, particularly in the U.S., as a dampening factor for investor confidence.
Market participants are closely monitoring upcoming macroeconomic data and central bank signals for direction. While Bitcoin retains a significant portion of its annual gains, the recent decline underscores its vulnerability to broader market sentiment and regulatory developments.
