Cryptocurrency Prices Decline… Bitcoin Trades Near $84,000

Cryptocurrency Prices Decline on Friday Amid Market Volatility

Cryptocurrency prices fell during Friday's trading amid the volatility in risky asset markets due to uncertainty surrounding the outlook for the U.S. economy and the global trade system.

Bitcoin dropped 0.41% to $83,849.70 as of 11:21 AM Mecca time, while Ethereum declined 0.23% to $1,968.88.

Ripple also fell 1.98% to $2.3983, Dogecoin dropped 0.89% to $0.1681, and the "Trump" token slid 3.34% to $10.86.

This coincided with the 30-day Bitcoin Volatility Index rising to 3.6% on Wednesday, compared to 1.6% a month ago, marking its highest level in six months, according to a report by "CoinMarketCap."

The primary reason for the index’s rise was the prevailing economic uncertainty, including trade tensions, inflation risks, and the unclear outlook for the U.S. economy.

Meanwhile, former U.S. President Donald Trump stated in a recorded speech aired at a digital assets conference in Manhattan yesterday that cryptocurrencies would help revive economic growth, boost the wealth of American citizens and businesses, and strengthen the dominance of the U.S. dollar