Golden Finance reported that this week BTC's decline intensified, falling 25% from its historic high set less than six weeks ago, as traders reversed their bets after the election of US President Trump. BTC fell 2.8% during the Asian session, hitting its lowest level since November 11th. This is part of a general decline in cryptocurrency, with Ethereum, Solana, and XRP also experiencing significant declines in the past few days. The dumping highlights the rapid changes in the fate of digital assets. BTC hit a historic high of $109,241 on January 20th, the day Trump was inaugurated, but since then, due to concerns about Trump's aggressive stance and widespread concerns about the US economy, BTC prices have fallen sharply. Cryptocurrency also faces pressure from a broader shift in investor risk preferences.
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Forbes: BTC's decline may be due to traders reversing bets after Trump's election
Golden Finance reported that this week BTC's decline intensified, falling 25% from its historic high set less than six weeks ago, as traders reversed their bets after the election of US President Trump. BTC fell 2.8% during the Asian session, hitting its lowest level since November 11th. This is part of a general decline in cryptocurrency, with Ethereum, Solana, and XRP also experiencing significant declines in the past few days. The dumping highlights the rapid changes in the fate of digital assets. BTC hit a historic high of $109,241 on January 20th, the day Trump was inaugurated, but since then, due to concerns about Trump's aggressive stance and widespread concerns about the US economy, BTC prices have fallen sharply. Cryptocurrency also faces pressure from a broader shift in investor risk preferences.