On Friday, the BTC/USDT pair rose by 2.9%, reaching $84,639. At the beginning of the American trading session, the price fell to $81,980, while buyers were able to defend the key support level in the $80,000 region.
The decline in quotes followed the collapse of the main US stock indices. At the end of the day, the S&P 500 lost 4.82% — the worst performance since June 2020, and the Nasdaq Composite collapsed by 5.41%, experiencing the largest drop since March 2020. The main trigger was the wave of protectionist tariffs imposed by the Donald Trump administration, which increased fears of escalating trade conflicts and a global recession.
Amid rising risks, investors switched to safe havens: demand for US Treasuries and gold increased, while Bitcoin, which is not included in this category, remained under pressure. The yield on 10-year Treasuries fell by 14 basis points to 4.06%, while the yield on 2-year Treasuries fell by 18 basis points to 3.72%.
The US dollar has lost 2.88% against major currencies in three days, falling to 6-month lows against the euro, yen and Swiss franc.
At the time of writing, the BTC/USDT pair is trading at $84,410. Buyers are trying to hold key levels to avoid further decline.
The hourly chart shows a potential pattern for recovery: a breakout of $84,050 could open the way to $86,900. The recovery may be hampered by the dynamics of stock indices during the American session. The close of the stock market will determine the dynamics of the cryptocurrency over the weekend.