Daijiworld Media Network - Singapore

Singapore, Nov 17: Just over a month after hitting an all-time high, Bitcoin has wiped out its 30% gains for the year as excitement over the Trump administration’s pro-crypto stance fades.

The cryptocurrency fell below $93,714 on Sunday, dipping under last year’s closing levels. Bitcoin had surged to a record $126,251 on October 6, only to start tumbling days later after unexpected tariff comments from President Donald Trump rattled markets globally. As of 8:39 a.m. on Monday in Singapore, Bitcoin traded at $94,869.

“The general market is risk-off,” said Matthew Hougan, chief investment officer at Bitwise Asset Management. “Crypto was the canary in the coal mine—it was the first to flinch.”

Institutional investors, who have been a major driver of B

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