Bitcoin (BTC) Price Reverses Gains Below $95K, Grinds Lower on Renewed Tariff Fears

Crypto markets are grinding lower on Friday, with Bitcoin reversing gains on renewed tariff fears after briefly having touched $100,000.

Cryptocurrency markets are trading lower on Friday as fresh tariff concerns halted Bitcoin's (CRYPTO: BTC) brief rally toward the $100,000 level.

The world’s apex digital asset was trading down 1.26% at $86,333.92.

Bitcoin had briefly touched $99,999 on Thursday during a strong session that saw the coin rally 6% at one point.

The coin encountered resistance at the key psychological level and dropped as low as $84,884 on Friday.

Top cryptocurrency dropped on Friday, halting Bitcoin's brief rally toward the $100,000 level.

The world’s apex digital asset was trading down 1.26% at $86,333.92.

Bitcoin had briefly touched $99,999 on Thursday during a strong session that saw the coin rally 6% at one point.

The coin encountered resistance at the key psychological level and dropped as low as $84,884 on Friday.

The seven-day average funding rate has dropped significantly to 0.004%, down 85% from December’s 0.026% peak, according to Glassnode data.

This suggests declining demand for leveraged longs and a waning speculative appetite, hinting at potentially choppy or corrective price action unless leverage returns.

“Lots of traders getting chopped up here,” trader Follis said as traders faced increased market volatility.

Patience — don't diddle in the middle$BTC pic.twitter.com/ImvrApQ1M9

Many anticipated an easy altcoin bull market, but only Bitcoin has performed, according to trader George.

He advises shifting the mindset from “only longs” to actively trading ranges and embracing both upward and downward moves.

“Despite the challenges, crypto is still one of the spaces where you can get rich the fastest,” George said, adding that one should learn to trade both ways instead of complaining about the lack of movement in altcoins.

Trader Nebraskangooner identified a possible bull pennant forming on Bitcoin's weekly chart, marked by strong impulse and consolidation.

A breakout would validate the pattern, targeting a potential rise to $118,000, while also offering clear downside invalidations.

#Bitcoin We can consider possibility of weekly chart being in a large bull pennant

Impulse w/ consolidation

Now we would need a breakout to confirm. For now it's just a possible scenario.

Would give us clear upside levels and downside invalidations with measured $118k target pic.twitter.com/yAx9weBdrY

The breakout scenario would be invalidated if Bitcoin drops below a support level of around $70,000 to $75,000, the trader noted.

Theڡweak session comes as traders await fresh updates on the U.S.-China trade talks, with concerns over new tariffs halting a recent rally in stock futures.

The Dow Jones Industrial Average futures were down 250 points, suggesting a drop of around 0.7% at open, while S&P 500 futures were down 0.6%.

The U.S. is reportedly preparing to impose tariffs on around $300 billion of Chinese imports if the talks fail to produce an agreement.

The move would effectively tax nearly all goods imported from China and is likely to stoke inflation in the U.S.

The tariffs would also impact several key industries in the U.S., including technology, retail and manufacturing.

The move is likely to draw criticism from several U.S. businesses and could potentially lead to further market volatility.