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Bitcoin falls nearly 3% for the week amid security concerns
Сryptocurrency
Bitcoin remained under pressure on Saturday as US interest rate hikes and renewed concerns regarding cryptocurrency security weighed on investor sentiment.
Bitcoin traded at $82,790.9 at 14:18, down 0.5%, after fluctuating between $82,537.7 and $82,941.6.
The world's largest cryptocurrency was heading for a weekly decline of nearly 3% after briefly approaching the $87,000 mark last Sunday, only to lose ground over the course of the week.
Rising energy prices and climbing Treasury yields weighed on cryptocurrency markets, while concerns about potential AI-driven security breaches of hardware wallets, reports of cryptocurrency theft linked to Ledger, and the first anniversary of last year's October 10 flash crash heightened uncertainty.
Bitcoin also continued to experience unusually sharp price swings relative to its recent volatility. A CoinDesk analysis showed that the cryptocurrency recorded 10 days in 2026 where its price deviated by at least three standard deviations from its recent trading pattern—surpassing the eight such days recorded during the entire year of 2018. Nevertheless, annualized volatility has dropped to approximately 46% this year from 84% in 2018, while average three-standard-deviation moves have narrowed to about 7% from 10%. These figures indicate that disproportionately large price swings remain unusually frequent, even as Bitcoin's overall volatility has declined.
September’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports, scheduled for release next week, will provide further clues as to whether the Federal Reserve might resume interest rate hikes.
Markets currently anticipate that the central bank will leave its benchmark rate unchanged at the October 27–28 meeting, with a potential 25-basis-point hike in December.
Higher interest rates generally dampen demand for speculative assets like Bitcoin, as investors reassess the relative appeal of traditional fixed-income investments.
Security concerns have also weighed on sentiment after hardware wallet manufacturer Ledger launched an investigation into reports of missing cryptocurrency linked to devices sold through a Southeast Asian reseller.
Blockchain researchers have estimated potential losses at between $86 million and $93.4 million, though Ledger has neither confirmed the amounts nor established the cause. The company has asked the reseller, CryptoBilis, to suspend sales and shipments pending the investigation's conclusion. There is no confirmed evidence that Ledger’s own systems have been compromised. Bitcoin-related corporate activity remained in the spotlight as Strategy’s high-yield preferred shares (STRC) rose to $99.71 on Friday—their highest level since June.
The preferred shares carry an annual dividend rate of 12%, with Strategy maintaining dollar reserves to back the payouts. A move above $100 could enable the company to issue additional preferred shares to fund further Bitcoin purchases, potentially providing another source of corporate demand.
Ether also struggled to sustain gains, remaining down approximately 7% for the week—lagging behind Bitcoin—as the broader cryptocurrency market found it difficult to maintain its recovery.
Cryptocurrency prices today: Altcoins show mixed performance
Prices across the broader cryptocurrency market were mixed as of 2:18 PM on Saturday.
The world's second-largest cryptocurrency, ETH/USD, fell 0.4% to $2,495.77, while the third-largest, XRP, rose 0.2% to $1.4036.
Solana dropped 1.6% to $109.53, while BNB rose 0.7% to $748.50.
Cardano jumped 6% to $0.2543, outperforming most major tokens, while Dogecoin rose 0.9% to $0.085793. Among meme coins, TRUMP rose 2.2% to $1.89, while Shiba Inu gained 1.2% to $0.00000545.