Share this article
BTC
$84,833.71
+
0.94%ETH
$1,583.09
-
0.23%USDT
$0.9996
-
0.03%XRP
$2.0599
-
0.88%BNB
$590.59
+
1.43%SOL
$134.88
+
3.66%USDC
$0.9996
-
0.03%TRX
$0.2466
+
0.63%DOGE
$0.1550
-
0.43%ADA
$0.6132
-
0.17%LEO
$9.2276
-
2.15%LINK
$12.54
+
0.96%AVAX
$19.08
+
0.33%XLM
$0.2414
+
2.10%TON
$2.9585
+
1.13%SHIB
$0.0₄1180
-
0.67%HBAR
$0.1633
+
3.92%SUI
$2.1245
+
2.34%BCH
$329.45
+
0.79%HYPE
$17.08
+
8.89%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Looks to Break Long Streak of Weekend Skids
The world's largest crypto has declined for five consecutive weekends, noted Standard Charterd's Geoff Kendrick.
What to know:
- The price of bitcoin has fallen for five consecutive weekends.
- This isn't normal, said an analyst, noting weekend price action for all of 2024 tended to be rather muted.
- A rally during early U.S. trading hours Friday was quickly snuffed out.
Bitcoin (BTC) managed to put in a modest rally early in the U.S. trading session on Friday, but the move was quickly snuffed out. Are bulls lightening up positions ahead of the weekend?
They could be forgiven for doing so.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In his Friday note, Standard Chartered's Geoff Kendrick said bitcoin's price has now declined for five consecutive weekends (measured from 5 pm ET Friday to the same time on Sunday).
Among the scares during that timeframe were the DeepSeek AI news and Trump tariff threats.
"This is not normal," reminded Kendrick, noting that weekend price action for all of 2024 tended to be rather muted, with Mondays and Fridays instead being the time to pay attention for big moves.
Failed rally on Friday
Turning to the action early Friday, bitcoin managed to rally about 1.5% to $97,600 in very short order following the release of U.S. retail sales data for January. The number missed economist estimates by a mile, giving hope that rate cuts for the Federal Reserve might be back on the table in the first half of the year.
The price has since returned to roughly where it was ahead of the print at $96,400.
An extra thought for those fearful about the coming weekend: It's three days in the U.S., which has Monday off for Presidents' Day.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
