The world’s largest cryptocurrency traded 1.1% lower at $66,464.6, after sliding to lows near $65,000 in the previous session

Bitcoin traded around $66,000 on Friday, extending its recent sluggishness and looking set to record a fourth straight weekly decline as investors took a cautious stance amid broad weakness across risk assets.

The world’s largest cryptocurrency traded 1.1% lower at $66,464.6 by 07:24 GMT, after sliding to lows near $65,000 in the previous session.

Bitcoin was set to lose almost 6% this week — its fourth consecutive weekly decline. The token has struggled to find sustained upward momentum this week after bouncing off earlier lows, pulling back toward last week’s support near $60,000.

Risk aversion has rippled through financial markets, with Asian equities faltering on Friday as broader selling pressures weighed on sentiment.

Fears of artificial intelligence-driven disruption returned on Thursday, with broad sell-offs in software and IT shares as investors question how automation and new AI tools could undermine traditional business models and revenue streams.

Another focus for markets on Friday is the U.S. Consumer Price Index (CPI) report, which is expected to provide new insight into inflation trends and the outlook for central bank interest-rate policy.

Earlier in the week, strong U.S. jobs data showed robust payroll gains and a lower unemployment rate, diminishing hopes of imminent rate cuts.

That report also tempered market optimism and contributed to subdued trading in bitcoin and other speculative assets.

The U.S. Commodity Futures Trading Commission (CFTC) has appointed several leading cryptocurrency executives to its newly formed Innovation Advisory Committee, underscoring the agency’s expanding role in overseeing digital asset markets.

The committee is tasked with advising on emerging technologies such as blockchain and artificial intelligence as they intersect with derivatives and crypto markets.