Bitcoin briefly fell to near $80,000 on Friday, hitting its lowest level since November 11. Cumberland Labs Chief Research Officer Chris Newhouse noted that "tariff policy has further dampened the market outlook, while stubbornly high short-term inflation expectations have heightened overall caution. The Bybit exchange hack has put additional downward pressure on prices and negatively impacted market sentiment." Cryptocurrencies have also come under increased pressure from a shift in risk appetite among investors, who have withdrawn Trump-related trades in several markets. The S & P 500 fell this week after weak U.S. consumer confidence data raised questions about the economic outlook.