Bitcoin price today: steady at $114k after steep losses on tariff, economic fears

Published 04/08/2025, 06:54
Updated 04/08/2025, 14:40
© Igor Faun

Investing.com-- Bitcoin was nearly unchanged on Monday, steadying after logging steep losses over the past week as concerns over softening U.S. economic growth and looming trade tariffs dented appetite for risk-driven assets. 

Broader crypto prices rose marginally, but were also nursing from last week’s risk-off move, while some elements of profit-taking remained in play.

Bitcoin rose 0.1% to $114,310 by 09:37 ET (13:37 GMT). 

Recent buying by major corporate holders did little to stem losses in Bitcoin, which was down nearly 3% in the last five days. 

Bitcoin rattled by soft payrolls, tariff uncertainty 

Bitcoin sank in tandem with Wall Street on Friday, after nonfarm payrolls data for July read substantially weaker than expected.

The reading ramped up concerns over a cooling U.S. economy, as did a sharp downward revision in jobs growth over the past two months.

President Donald Trump shortly after the reading fired Bureau of Labor Statistics Head Erika McEntarfer, also spurring some concerns over the future credibility of U.S. economic data. 

While the weak payrolls data did ramp up bets on interest rate cuts by the Federal Reserve, it also underscored a rapid cooling in the U.S. economy, given the importance of the labor market.

Adding to the economic uncertainty, Trump’s tariffs against a host of major trading partners are set to take effect this week, potentially causing more economic disruption.

While Bitcoin and crypto are not directly impacted by trade tariffs and a cooling labor market, the resulting shifts in sentiment factor into speculative asset prices. Lower rates, however, stand to benefit Bitcoin in the long term.

Metaplanet buys more Bitcoin

Metaplanet Inc (TYO:3350) said on Monday it had purchased an additional 463 Bitcoin at about 17,268,320 yen ($116,975), bringing its total stash to 17,595 coins.

The Japanese hotelier turned Bitcoin treasury also said on Friday that it will raise $3.7 billion in equity to buy more Bitcoin.

Metaplanet is the world’s seventh-largest corporate holder of Bitcoin, and is about 200 coins behind Trump Media & Technology Group Corp (NASDAQ:DJT). 

SEC’s Project Crypto is ’the most transformative crypto vision ever laid’: analyst

Bernstein analysts had strong words for the SEC’s new crypto initiative under Chair Paul Atkins, calling it “the boldest and the most transformative crypto vision ever laid out by a sitting SEC chair.”

In a speech titled "American Leadership in the Digital Finance Revolution", Atkins unveiled Project Crypto, a regulatory overhaul aimed at positioning the U.S. as the global hub for blockchain finance.

The initiative builds on the Trump administration’s push to make America the center of digital asset innovation, with a focus on adapting U.S. securities laws to the realities of the blockchain era. Bernstein’s team, led by Gautam Chhugani, said the move reflects a broader pivot from rigid, legacy regulation toward a more adaptive, forward-looking framework.

Atkins framed the moment in historical terms, comparing it to the birth of the New York Stock Exchange in 1792, postwar clearing reforms, and the rise of electronic trading in the 1990s.

“The future is arriving at full speed — and the world is not waiting. America must do more than just keep pace with the digital asset revolution. We must drive it,” he said.

Bernstein also noted that the SEC’s decision to drop its case against Coinbase (NASDAQ:COIN) signals a meaningful change in regulatory posture, one that may unlock greater domestic innovation in the crypto space.

Crypto price today: altcoins recover some ground

Broader crypto prices were positive on Monday, as major altcoins tentatively recovered some of last week’s losses. 

World no.2 crypto Ether rose 2.7% to #3,590.10, while XRP rose nearly 5% to $3.01. The two slumped between 9% and 13% last week. 

Solana rose 1.4%, while Cardano added 2%.

Among memecoins, Dogecoin rose 2%, while $TRUMP added 1.3%.

(Additional reporting by Vahid Karaahmetovic.)

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