Bitcoin and Ether Decline Amid Inflation Concerns and High Oil Prices

Bitcoin experienced a decline of up to 3.4% on Friday, reaching approximately $78,600, as inflation concerns and elevated oil prices exerted pressure on risk assets. According to NS3.AI, Ether also saw a decrease of nearly 4%, falling to $2,200. This downturn in cryptocurrencies occurred alongside declines in stocks and bonds. Bitcoin is on track for its first weekly loss since the end of March.