Bitcoin and other cryptocurrencies are increasingly being burdened by the tighter monetary policies of many central banks.
On Friday, the price of the oldest digital currency on the Bitfinex trading platform fell to around $35,500.
This is the lowest level since mid-February.
The day before, the course had dropped significantly by around $3,000.
Other crypto assets such as ether were also under pressure ahead of the weekend.
"Investors are caught in the grip of interest rate concerns," commented Bitcoin expert Timo Emden from Emden Research.
Many central banks are currently fighting high inflation by raising interest rates.
Rising interest rates are putting a strain on particularly risky assets like cryptocurrencies because they don't provide a regular income stream, unlike relatively safer alternatives like fixed income.
Cautious investors
On the German stock market, the price losses from Thursday afternoon continued on the last trading day of the week.
There is no longer any sign of the tailwind from the US Federal Reserve, which had caused the Dax to rise above 14,300 points at times the day before.
The stock markets are still gripped by the prospect of sharply rising interest rates combined with uncertain economic prospects.
In addition, investors are likely to act cautiously ahead of the US labor market report in the early afternoon.
In the first few minutes of trading, the Dax fell another 0.76 percent to 13,797 points.
A minus of 2.1 percent is thus emerging for the first week of May.
The M-Dax of medium-sized stocks fell by 0.70 percent to 29,170 points.
The leading euro zone index, the Euro Stoxx 50, fell by 1.1 percent.
The specifications from the overseas exchanges in the USA and China are negative.
In New York, technology stocks sold off again the day before after yields on ten-year government bonds rose to over three percent.