The Bitcoin price extended a week-long sell-off on Monday morning to hit its lowest level since the steep decline in April around US President Trump’s Liberation Day plan to spark a global trade war.

The world’s largest cryptocurrency is now down 9 per cent over the last five days to a seven-month low of $US93,043 ($142,362) as investors also dump the token on worries the US Federal Reserve may not cut interest rates at its monetary policy meeting on December 10.

“People thought the US Fed cutting (rates in December) was a foregone conclusion, but now it’s unclear, so that’s prompted some selling,” said Cameron Gleeson, a senior investment strategist at Betashares. “There’s also been a risk-off sentiment in the broader market.”

Bitcoin is still up around 30 per cent since President Trum

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