Independence Day profit taking as well as a Chines warning sink Bitcoin
Last Updated on 5 July 2025 by CryptoTips.eu
US stock markets remained closed on Friday, as the United States celebrated its Fourth of July (Independence Day).
Profit-taking by investors and a Chinese warning that Russia has to win in Ukraine pushed European stock markets and Bitcoin lower as we headed into the weekend.
Interest
After Wall Street had touched new records earlier this week, Europe started trading lower on Friday (and the crypto markets followed suit).
The downside of this record market on Wall Street, however, and US President Donald Trump will not like this either, is that the Federal Reserve can remain patient with lowering interest rates, as analysts note that the US economy is holding up quite well.
Bitcoin thus remained just below the ATH record of $112,000 and on Friday it traded lower again towards $107,000. At the time of writing, the largest digital currency is trading for $108,300.
China
A Chinese warning about ‘realpolitik’ also led to negative reactions on markets that were still open on Friday. In a remarkably candid message to the European Union, Chinese Foreign Minister Wang Yi reportedly said that China could not afford a Russian defeat in Ukraine.
The statement came during a conversation with EU foreign policy chief Kaja Kallas and was transcribed in the newspaper South China Morning Post. Investors reacted with concern to the news.
