Bitcoin weakness persists as crypto steadies after bruising week
NEW YORK:
Bitcoin began the week on the back foot following a prolonged selloff that has put the token on track for its worst month since 2022.
After regaining some ground over the weekend, the original cryptocurrency fell as much as 2.3% to briefly dip below US$86,000 this morning, before paring losses.
It was trading at US$87,986 as of 10.24am in Singapore.
While that’s substantially higher than the Friday lows of US$80,553, traders see little cause for celebration.
The wider crypto market is in a pronounced slump despite surging institutional adoption and a series of policy wins pushed for by US President Donald Trump, who has embraced the industry.
“Early…
