Bitcoin rally loses steam as market braces for expiry of crypto derivatives

Quick Summary:

Bitcoin and its smaller rivals are struggling for traction, after the largest cryptocurrency surged to a record high last week.

The US company has transformed itself from a software maker into a bitcoin accumulator and now owns more than US$40 billion of the digital asset.

Traders are waiting to see if such a stockpile is feasible.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong Kong

Topics: Bitcoin Friday Expiry Asset Digital Token Rally Days Fizzling Ether Final

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-27 @ 12:15:46 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 221 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24685522

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About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 10 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 9 hours ago

Coverage Areas: Hong Kong

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Publication Timezone: GMT +8:00

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Publisher ID: #42

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