Bitcoin steadies near $114K amid economic, tariff concerns

• Bitcoin steadied at $114,268.8, up 0.6%, after a weak week amid economic concerns.

• Bitcoin fell with markets after weak July jobs data; tariffs, Fed cuts add economic uncertainty.

• Metaplanet buys 463 BTC, totaling 17,595 BTC; altcoins recover with Ether up 2.4%, XRP near 5%.

Bitcoin showed limited movement on Monday, finding some stability after experiencing significant losses over the prior week. The cautious environment was driven by worries over weakening U.S. economic growth and the imminent implementation of trade tariffs, which dampened enthusiasm for high-risk assets.

Although the broader cryptocurrency market edged up slightly, investors remained cautious following last week’s risk-averse sentiment and ongoing profit-taking activities.

As of 01:25 ET (05:25 GMT), Bitcoin gained 0.6% to reach $114,268.8, despite slipping nearly 3% over the past five days. Corporate buying interest, including recent purchases by large holders, was insufficient to fully counteract the recent downward pressure.

Bitcoin’s decline last Friday mirrored the broader U.S. stock market drop after the release of July’s nonfarm payroll report, which revealed labor growth far below expectations. The report not only heightened concerns about a slowing U.S. economy but also included a significant downward revision of job additions over the previous two months. Following the data release, President Donald Trump dismissed Erika McEntarfer, the head of the Bureau of Labor Statistics, raising questions about the future reliability of U.S. economic statistics.

While the disappointing jobs figures have increased speculation on potential Federal Reserve interest rate cuts, they simultaneously highlighted the fragility of the economic recovery. Adding to the uncertainty, the U.S. is set to enforce tariffs on multiple key trading partners this week, potentially causing further economic disruptions.

Although Bitcoin and other cryptocurrencies are not directly affected by tariffs or labor market fluctuations, their prices are influenced by broader shifts in investor sentiment, with lower interest rates expected to support Bitcoin’s value over time.

Metaplanet Inc (TYO:3350), the Japanese hotel company turned Bitcoin treasury, announced on Monday an additional purchase of 463 Bitcoins valued at approximately 17,268,320 yen (116,975). This raised its total holdings to 17,595 Bitcoins, solidifying its position as the world’s seventh-largest corporate Bitcoin owner, trailing Trump Media & Technology Group Corp (NASDAQ:DJT) by around 200 coins.

Furthermore, Metaplanet confirmed plans to raise $3.7 billion through equity financing to acquire more Bitcoin.

Major altcoins showed tentative signs of recuperation from last week’s steep declines.

• Ether, the second-largest cryptocurrency globally, increased by 2.4% to $3,527.01

•  XRP advanced nearly 5% to $2.9712. after dropping between 9% and 13% previously

Other tokens also posted gains.

• Solana up 0.8%

• Cardano rising 2.4%

• Memecoins like Dogecoin and $TRUMP growing by 2% and 1.6%, respectively