The cryptocurrency market faces intensifying headwinds on Friday as markets digest the uncertainty surrounding tariffs in the United States (US). Bitcoin (BTC) is extending losses below $106,000 while major altcoins, including Ethereum (ETH) and Ripple (XRP), test critical support areas.
The cryptocurrency sector inches higher on Monday, supported by a 0.3% increase in the total market capitalization to $3.58 trillion over 24 hours.
Bitcoin (BTC) briefly traded above $107,000 on Tuesday after Standard Chartered's Geoffrey Kendrick reaffirmed the bank's $500,000 price target by 2029, citing growing institutional and government exposure through Strategy's stock holdings.