Bitcoin Recovers to $84K After Plunge, But Traders Brace for Weekend Uncertainty
Bitcoin (BTC) bounced back to $84,000 on Friday morning after tumbling to $78,000 overnight, though the largest cryptocurrency remains down over 15% from last week. The recovery offers a temporary sigh of relief, but traders remain cautious heading into the weekend.
The Crypto Fear & Greed Index briefly collapsed to 10 overnight, a level reminiscent of the 2022 bear market lows. It has since rebounded to 16, though it remains in “extreme fear” territory, a sharp contrast from last week’s 55 (“greed”). The index has not touched “extreme greed” levels (above 75) since Trump’s inauguration.
Broader crypto markets are struggling as well, with the CoinDesk 20 Index down 2% over the last 24 hours. Solana (SOL) is one of the few bright spots, gaining 5% after CME Group confirmed plans to launch SOL futures in March. However, the token is still down 36% over the past month.
Will Bitcoin’s Weekend Curse Strike Again?
Unlike traditional markets, crypto never sleeps, and weekend trading often brings major volatility.
Recent history hasn’t been favorable for BTC, with Standard Chartered’s Geoff Kendrick noting that weekends have been predominantly bearish in recent months. While last weekend saw slight gains, the overall trend has been one of downward pressure in lower-liquidity conditions.
Adding to the uncertainty, President Trump’s latest tariff policies are set to take effect on Tuesday. The administration has confirmed 25% tariffs on Mexico and Canada and 10% on China, raising concerns about increased inflation and risk-off sentiment in global markets.
Despite this, some analysts argue that Bitcoin’s sell-off may be overdone. If the market perceives that the impact of tariffs is already priced in—or if there’s a surprise delay in their implementation—a short squeeze could fuel a sharp recovery.
As the weekend approaches, traders are preparing for another round of high-stakes price swings. With uncertainty at its peak, one thing is clear: volatility is far from over.
