Crypto Investors Pull $1.1tn as Trump-Fuelled Bitcoin Boom Unravels
Nearly $1.1 trillion has been wiped from cryptocurrency markets in recent weeks as confidence fades in Donald Trump’s promise to make the US the “crypto capital of the world”.
Bitcoin tumbled to $93,730 on Sunday, far below its record high above $126,000 set just last month. The plunge has erased nearly $580bn from the world’s largest digital asset. At one point over the weekend, bitcoin had given up all its gains for the year, extending a sell-off triggered by one of the biggest crypto crashes in history in October.
By Monday, bitcoin remained subdued below $96,000, with investors still reeling from last month’s brutal liquidation that wiped out around $400bn (£300bn) in less than 24 hours.
The collapse has…
