Bitcoin slips below $68,000 as dollar posts steepest weekly gain

Bitcoin fell to $67,960 by Saturday morning, down 3.4% over 24 hours and retreating sharply from the week’s high as late-week selling pushed prices toward the lower end of the recent range. Major tokens took heavier hits: ether dropped 4.4% to $1,974, solana fell 4% to $84.31, dogecoin lost 2.9% to $0.09, BNB slid 2.6% to $627 and XRP fell 2.2% to $1.37.

The weekly picture is more mixed: bitcoin is still up 3.6% over seven days, ether has gained 2.6% and BNB added 2.1%, after a mid-week surge absorbed the shock from the war. The dollar posted its steepest weekly gain in a year as markets priced in higher energy costs, stickier inflation and a Fed with less room to cut rates, a clear headwind for assets priced in dollars.

"As tensions escalated in the Middle East last week, investors moved quickly to the safety of the U.S. dollar, which strengthened as markets began pricing in higher energy prices and reignited inflation fears, potentially delaying Federal Reserve rate cuts," said Björn Schmidtke, CEO of Aurelion.

United States

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