Bitcoin erases year’s gain as crypto bear market deepens
HONG KONG:
Just a little more than a month after reaching an all-time high, Bitcoin has erased the more than 30% gain registered since the start of the year as the exuberance over the pro-crypto stance of the Trump administration fades and the recent cooling of high-flying technology stocks leads to a drop in overall risk appetite.
The dominant cryptocurrency fell below US$93,714 on Sunday, pushing the price beneath the closing level reached at the end of last year, when financial markets were rallying following President Donald Trump’s election victory.
Bitcoin soared to a record…
