Bitcoin Eyes a Break from Five-Week Losing Streak
Bitcoin (BTC) showed a brief surge in early U.S. trading on Friday, but the momentum quickly faded, raising questions about whether traders are scaling back ahead of the weekend.
Standard Chartered’s Geoff Kendrick highlighted in a note that BTC has now posted losses for five consecutive weekends, measured from 5 p.m. ET on Friday to the same time on Sunday.
Key factors weighing on sentiment during this period include concerns surrounding DeepSeek AI and potential tariff policies under former President Donald Trump.
“This pattern is unusual,” Kendrick noted, pointing out that in 2024, weekend trading was typically subdued, with major price movements occurring on Mondays and Fridays instead.
Friday’s Short-Lived Rally
Earlier in the day, Bitcoin briefly rallied 1.5% to $97,600 following weaker-than-expected U.S. retail sales data for January. The disappointing numbers reignited hopes for potential Federal Reserve rate cuts in the first half of the year.
However, the gains were short-lived, and BTC quickly pulled back to $96,400, erasing the move.
For traders bracing for the weekend, there’s another wrinkle—it’s an extended three-day break in the U.S., with markets closed on Monday for Presidents’ Day.
