Bitcoin Holds Steady at $83K Amidst Market Uncertainty
The cryptocurrency market concluded another week with subdued price action, leaving investors cautious. Bitcoin (BTC) held steady around $83,000, showing minimal gains over the past seven days. Ethereum (ETH), Solana (SOL), and XRP mirrored this sluggish performance.
Macroeconomic Pressures Impact Crypto Market
Several macroeconomic factors contributed to the cautious market sentiment. Weaker-than-expected manufacturing PMI data (49, below the anticipated 49.5 and February's 50) and U.S. JOLTS job openings (7.568 million, short of the expected 7.690 million) indicated a bearish trend for broader markets. These reports, coupled with Donald Trump's announcement of potential reciprocal tariffs, further increased market uncertainty.
Key Crypto Price Movements
- Bitcoin (BTC): Experienced a slight 0.5% increase over the week, trading around $83,000. Prices fluctuated between $81,000 and $87,000.
- Ethereum (ETH): Saw a weekly decline of approximately 2%, settling near $1,800. The price ranged from $1,700 to $2,000.
- Solana (SOL): Decreased by roughly 5%, closing at $120. Prices varied between $112 and $135.
- XRP: Followed the overall market trend, dropping over 2% to $2.13. Consolidation continues despite ongoing speculation regarding the SEC lawsuit.
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Disclaimer: This analysis reflects current market conditions and is for informational purposes only. Conduct thorough research before investing in cryptocurrencies. Codeum is not responsible for any financial losses.