By Elsa Ohlen
The price of Bitcoin slid at the end of a week when the world's biggest cryptocurrency hit multiple record highs as investors turned to alternative assets in the face of a government shutdown and broad lack of tradable data points out of the U.S.
Bitcoin was down 0.6% over the past 24 hours to $121,462, according to CoinDesk data, bringing it to a slight loss over the seven days. The coin dropped to below $120,000 for the first time in more than a week late Thursday, before paring losses.
The world's largest cryptocurrency rallied earlier this week as the U.S. government shutdown continued with no resolution in sight. Bitcoin now trades about 4% below its record high of just above $126,000 set earlier this week.
Bitcoin and other cryptos have benefited from the so-called "debasement trade," in which assets such as Bitcoin and gold gain value as fiat currencies weaken. However, as the dollar shifted higher over the past week crypto prices turned softer.
Among other cryptocurrencies, Ethereum traded 0.7% lower over the past 24 hours and Solana dropped 1.2%, while XRP edged up 0.1%
Meanwhile, futures tracking the S&P 500 and Nasdaq indexes traded largely flat.
In other crypto news from across the Atlantic, the UK's biggest retail investment platform Hargreaves Lansdown warned British investors over exposure to digital assets, saying bitcoin "is not an asset class" and lacks intrinsic value, the Financial Times reported. It comes as the UK's financial watchdog lifted a four-year ban on retail investors to hold regulated crypto products.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
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October 10, 2025 06:53 ET (10:53 GMT)
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