"Momentum at an end"
Bitcoin falls to its lowest level since November
Bitcoin fell to its lowest level since November last year on Friday, weighed down by uncertainty over US President Donald Trump's tariff plans. The world's largest cryptocurrency by market value recently fell by more than five percent to 79,666 dollars and traded below 80,000 dollars for the first time since November 11.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen "Bitcoin's plunge below $80,000 shows that positive sentiment from a crypto-friendly government and high-profile endorsements have run their course," said Joshua Chu, co-chairman of the Hong Kong Web3 Association. Bitcoin has lost a quarter of its market value since mid-December.
Aside from a series of crypto-friendly government appointments after Trump took office, there has been little concrete news for investors on Donald Trump's crypto policies since then. "The momentum ran out when there was no new news," said Kyle Rodda, senior financial markets analyst at Capital.com.
Investors unsettled
Ether, the second-largest cryptocurrency by market value, fell by almost six percent to 2149.38 dollars, its lowest level since January 2024. In addition, investors withdrew their money from Bitcoin-backed exchange-traded funds.
Global investors are unsettled as there are signs that the US economy's so-called exceptional position may be fading as Trump prepares to impose tariffs, stoking fears of higher global inflation and slower growth.
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