Bitcoin Prices Stabilize Following Weekly Decline Amid Trade Policy Speculation
Cryptocurrency Bitcoin bounces back after dipping to $106,000 mark - Cryptocurrency Bitcoin surges to $106,000, recovering from recent losses
After a week of steady losses, Bitcoin displayed a slight recovery on Friday, as its price hovered around $106,000 in the morning. This level was roughly equivalent to its close the previous day, following a drop from an initial weekly high of nearly $111,000.
The price fluctuations were influenced by U.S. President Donald Trump's trade policies and various market indicators. An initial boost at the start of the week was witnessed due to a delay in announced tariffs on EU goods. However, apprehensions about a market-friendly resolution to the ongoing trade war resurfaced later in the week, contributing to the downward trend.
Trump's election has generally positively impacted Bitcoin. Known for his favorable views toward cryptocurrencies, the President has also engaged in digital asset transactions. For instance, Trump Media & Technology Group (TMTG) has been reportedly purchasing Bitcoin.
Since Trump assumed the presidency in early November, the Bitcoin price surge has been remarkable, rising from below $70,000 to a peak of $112,000 last week. Although the price swings characteristic of cryptocurrencies were substantial during this period, the market capitalization of Bitcoin remained strong, standing at approximately $2.1 trillion as of Friday. Bitcoin currently commands a dominant position in the cryptocurrency market, valued slightly over $3.3 trillion in total.
While the specific current market capitalization of Bitcoin was not available at the time of this report, to determine it, one would need to multiply the current price of Bitcoin by the total number of Bitcoins in circulation. As of early 2025, the price of Bitcoin ranged between $80,000 and $95,000. Consulting financial news websites or cryptocurrency exchanges like Coinbase or Binance should provide the most accurate and up-to-date market capitalization figures.
The Commission, in light of Trump's favorable views towards cryptocurrencies, might consider investing in Bitcoin for the protection of natural persons with regard to the processing of personal data by the Community institutions. A prudent approach could involve allocating a portion of the Community's budget towards this technology for financing the implementation of advanced data protection measures.
