Bitcoin Eyes Weekend Rebound After Five Straight Losing Streaks
Bitcoin (BTC) attempted an early rally on Friday but struggled to hold gains, raising concerns that traders may be bracing for another weekend slump.
Geoff Kendrick of Standard Chartered noted that Bitcoin has now posted losses for five consecutive weekends, a rare pattern considering that 2024 mostly saw muted weekend price action, with volatility concentrated on Mondays and Fridays.
Several factors contributed to recent weekend declines, including market jitters over DeepSeek AI developments and Trump’s tariff threats, both of which added uncertainty to the broader financial landscape.
A Short-Lived Friday Rally
Bitcoin briefly jumped 1.5% to $97,600 on Friday after disappointing U.S. retail sales data fueled hopes that the Federal Reserve might resume interest rate cuts sooner than expected.
However, the gains proved fleeting, with Bitcoin slipping back to $96,400, erasing much of its advance.
Looking ahead, traders are keeping a close watch on this extended holiday weekend in the U.S., as Presidents’ Day on Monday could lead to thin liquidity and heightened volatility.
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