Bitget Hack Jolts Markets as Bitcoin Stalls Amid Rate Jitters

Bitcoin's price stagnated at around $84,110.2 on Friday as market participants shifted their focus to rising Treasury yields and a major hack targeting Bitget.

The world's biggest crypto was down 0.3% from its previous close, but still trading up 3.5% for the week.

A mixed bag of outcomes emerged in broader cryptocurrency markets, with most altcoins showing gains for the week due to favorable U.S. regulations sparking an extended rally in the sector.

Bitget was hit by a $352 million hack, though CEO Gracy Chen said all user funds remain safe and the losses would be covered by Bitget's own funds.