BITCOIN SLIDES MORE THAN 5% TO LOWEST SINCE NOVEMBER 11 – The cryptocurrency has shed a quarter of its market value since mid-December
Bitcoin fell to a 3 and a half month low, dragged by uncertainty about U.S. President Donald Trump’s tariff plans and crypto policy and flagging investor confidence after a $1.5 billion hack in rival coin ether.
Bitcoin, the world’s largest cryptocurrency by market value, was last down more than 5% on the day at $79,666, trading below $80,000 for the first time since November 11.
The world’s largest cryptocurrency has shed a quarter of its market value since mid-December, when it topped $105,000 on optimism that the Trump administration would champion a strategic bitcoin fund and loosen regulation.
Beyond a flurry of appointments of crypto-friendly officials when he took office, there has been little concrete news around that policy for investors.
Global investors have been jittery on signs the so-called exceptionalism of the U.S. economy might be fading, while Trump prepares to impose tariffs that have stoked fears of higher global inflation and slower growth.
