Bitcoin price today: pinned at $114k amid little relief from tariff jitters

Investing.com-- Bitcoin moved little on Thursday, with broader cryptocurrency markets also remaining rangebound as concerns over higher U.S. trade tariffs kept investors largely to the sidelines.

U.S. President Donald Trump’s reciprocal trade tariffs took effect from Thursday, subjecting major global economies to levies ranging from 10% to 50%. Trump on Wednesday also outlined a 100% levy on all semiconductor imports, effective in the coming weeks. 

Bitcoin rose 0.3% to $114,521.4 by 01:31 ET (05:31 GMT).

Bitcoin rangebound as tariffs, economic jitters limit risk

The world’s biggest crypto stuck largely to a trading range of between $115,000 and $110,000 over the past week as broader risk appetite soured. 

While Bitcoin did see some positive cues– mainly sustained buying by major corporate holders such as Strategy (NASDAQ:MSTR) and Metaplanet Inc (TYO:3350)– they did little to push up prices, which have been on a sustained downturn after hitting record highs above $123,000 in mid-July. 

Risk appetite was largely quashed by concerns over the economic impact of Trump’s tariffs, as well as signs of cooling economic growth across the globe. 

Weak payrolls data from the U.S., released last week, was a major point of contention for markets. While the print did ratchet up bets for an interest rate cut by the Federal Reserve, it also sparked concerns over softening U.S. growth. 

Bitcoin and crypto markets tend to see limited direct impact from trade tariffs and cooling growth. But their speculative nature leaves them vulnerable to shifts in market sentiment.

Bitcoin has also seen sustained profit-taking from recent peaks.

Bitcoin spot ETFs see four days of steady outflows

Profit-taking and risk aversion saw spot Bitcoin ETFs log four consecutive days of capital outflows to Tuesday, totaling nearly $1.5 billion, data from market aggregator SoSoValue showed.

While ETFs did record a small inflow on Wednesday, it was less than a fraction of the cumulative outflows seen in the past four sessions.

Crypto price today: altcoins positive but still rangebound 

Broader crypto prices advanced on Thursday, but also remained squarely within trading ranges established over the past week.

World no.2 crypto Ether rose 1.6% to $3,688.75, while XRP rose 1.5% to $2.9951.

Solana and Cardano rose about 2% each.

Among meme tokens, Dogecoin added 2.5%, while $TRUMP rose 1.6%.