Bitcoin Bounces Back, but Sentiment Remains Shaky
Bitcoin prices climbed Friday, recovering from earlier losses triggered by President Donald Trump’s announcement of new “reciprocal” tariffs. After dipping below $81,500 on Thursday, the cryptocurrency rebounded to approach $84,000, signaling a slight return in investor confidence following midweek volatility.
Keypoints:
Bitcoin saw a modest rebound on Friday after earlier tariff-driven losses.
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The midweek dip followed Trump’s surprise announcement of new reciprocal tariffs.
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Crypto-linked stocks like Robinhood and Coinbase continued to decline.
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Strategy (formerly MicroStrategy) was a standout, trading higher despite sector weakness.
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Bitcoin is still trading well below its February highs above $100K, when investor sentiment was more bullish.
However, the rebound didn’t spread across the crypto sector. Robinhood Markets (HOOD) shares slid 11%, while Coinbase (COIN) dropped 7%. Bitcoin mining firm Mara Holdings (MARA) saw a minor 1% dip. Meanwhile, MicroStrategy—now known as Strategy (MSTR)—bucked the trend, gaining over 3% on the day.
Despite Friday’s bounce, Bitcoin is still far from its February highs above $100,000, when optimism around Trump’s policies fueled bullish sentiment. The overall crypto market cap now sits at about $2.6 trillion, down significantly from its late 2024 peak of over $3.7 trillion.