Bitcoin Struggles to End Weekend Decline Trend, Drops for 5th Consecutive Week
Bitcoin (BTC) attempted to recover early Friday during U.S. trading hours, but the momentum quickly faded, raising questions about whether traders are lightening positions before the weekend begins.
According to Geoff Kendrick from Standard Chartered, Bitcoin has now dropped for five straight weekends, a trend that has caught attention as the usual weekend trading pattern was relatively calm throughout 2024, with significant price moves occurring more frequently on Mondays and Fridays.
Factors like DeepSeek AI-related news and tariff uncertainties from former President Trump have kept market sentiment fragile during weekends.
A Failed Rebound
Bitcoin briefly rallied about 1.5% to $97,600 following the release of weaker-than-expected U.S. retail sales data, which sparked hopes that the Federal Reserve might cut rates sooner. However, this rally was short-lived, with Bitcoin retreating back to $96,400 after the initial spike.
Traders are now eyeing the long weekend in the U.S. for potential volatility, especially with Monday’s Presidents’ Day holiday creating possible market disruptions.
