Gold prices steady ahead of Fed decision; weekly weakness noted
Investing.com-- Bitcoin was little changed on Friday, after a recent rise brought the cryptocurrency closer to breaking back above the $100,000 level as risk appetite was boosted by China signaling that it was open to trade talks with the United States.
The investor sentiment was also boosted by major corporate holder Strategy (NASDAQ:MSTR) announcing a $21 billion equity offering, although the firm also posted a fifth consecutive quarterly loss.
Broader crypto prices also advanced on Friday after China’s comments, tracking an uptick in risk-driven markets, specifically equities. But crypto’s breadth of gains was limited, as a strong rally through late-April now appeared to be tapering off.
Bitcoin steadied at $96,999.0 by 10:20 ET (14:20 GMT), after rising as high as $97,226.1 earlier in the session.
Bitcoin upbeat as China signals openness to US trade talks
Bitcoin’s Friday gains came largely after China’s commerce ministry said it was open to trade talks with the U.S., following attempts at dialogue by Washington.
The comments spruced up hopes for trade negotiations between the world’s biggest economies, after they became embroiled in a bitter trade war in April.
Still, China called for sincerity from U.S. officials, and reiterated that any talks will still depend on the U.S. lowering its steep trade tariffs against the country.
Bitcoin and crypto are not directly impacted by U.S.-China trade ructions, unlike most equities, which have direct links to supply chains. Instead, their speculative nature makes them more sensitive to shifts in sentiment.
April jobs data stronger than expected
U.S. job growth in April exceeded expectations, easing some concerns about the economic impact of President Donald Trump’s blanket tariffs.
Nonfarm payrolls rose by 177,000, above the 133,000 forecast but slightly below March’s revised 185,000.
The unemployment rate held steady at 4.2%, with the household survey showing a gain of 436,000 employed individuals.
The stronger-than-expected data led traders to delay bets on a Federal Reserve rate cut until July, according to CME’s FedWatch tool. While the Fed is widely expected to keep rates unchanged at next week’s meeting, officials have signaled caution over inflation risks from tariffs and appear set to adopt a wait-and-see stance.
Markets continue to price in multiple rate cuts later in the year.
Following the report, President Trump reiterated his call for the Fed to lower interest rates.
“Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!” Trump said in a Truth Social post.
Saylor’s Strategy posts Q1 loss, announces $21 bln capital raise
Strategy, which is led by Bitcoin maxi Michael Saylor, reported a fifth consecutive quarterly loss for the March quarter, stemming largely from an unrealized loss on its Bitcoin holdings. Strategy posted a net loss of $4.22 billion or $16.49 a share, and saw a $5.91 billion unrealized loss on its Bitcoin holdings.
But the company announced a $21 billion at-the-market common stock offering, signaling that it intends to use the proceeds to buy more Bitcoin- largely in line with its prior stance.
The company had purchased over 15,000 Bitcoin in late-April for a total value of $1.4 billion, adding to its stockpile, which is already the largest in the corporate space.
Strategy’s stock has benefited greatly from this trend, as investors snatched up the stock for its exposure to Bitcoin. Strategy is trading up 33% so far in 2025, vastly outpacing even Bitcoin.
Crypto price today: altcoins also see small movements
Broader crypto prices all rose in tandem with Bitcoin, although gains were relatively limited.
World no.2 crypto Ether rose 0.1% to $1,842.14, while XRP slipped 0.1% to $2.22.
Solana fell 0.6% while Cardano added 1.5%. Dogecoin rose 1.7%.
$TRUMP fell 1.9%.