Bitcoin records first weekly decline since Donald Trump’s US election victory

Quick Summary:

The original cryptocurrency was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore.

A record outflow from US exchange traded funds investing directly in bitcoin last week will weigh on prices in the near term, said Sean McNulty, director of trading at liquidity provider Arbelos Markets.

The largest digital asset was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore, the biggest such drop since September.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong KongSingapore

Topics: Cent Bitcoin Market First Trump’s Cryptocurrency Decline Marked Donald Weekly Election

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 15:51:41 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 171 words

Reading Time: 1 minutes read

Sentences: 6 lines

Sentence Length: 29 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 24592174

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