Bitcoin Hits Over 3-month low, Reversing Gains Post Trump Election

A Week-Long Rout in Bitcoin Worsned Friday, with the Digital Asset Hitting an over 3-month low, Reversing Gains that Followed The Election of Us President Donald Trump.

Bitcoin was trading at about $ 80,500 in Early Trading in Asia, Down 3.45% on the day and Nearly 25% lower than an all-time high hit in mid December.

Bitcoin had enjoyed a surge in pris Following Trump’s Victory in November, with the Leader Having Posed Posed Himself as a Pro-Crypto Candidate during during.

However, priss have slipped as investors performed to be risky give the weight Wars such as russia-rukraine and israel-gaza.

Investor Sentime $ 1.5 billion hack In what’s estimated to be the largest crypto heist in history.

“It seems that the market has become Volatile in reaction to the bybit incidence,” Jeff mei, chiff operating officer at crypto exchange btse btse in a statement serious Fed Rate Cuts in the Us Have Also Suppressed Markets.

Still, some crypto bulls remain positive on bitcoin’s outlook as they await key regulatory developments from the trump Administration.

Alredy, Trump has signed an executive Order promoting the advancement of cryptocurrencies in the US and development a national digital asset stockpile. Meanwhile, his administration has created task forces and a “crypto czar“Tasked with supporting a clear regulatory framework for crypto assets.

Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, said in an interview with CNBC’s “Squawk Box Europe” Surpass the $ 200,000 Threshold This year.

Increased Crypto Adoption by institutions along with “regulatory Clarity” in the US, Should Lead to Less Volatily Over Time, He Said.

—CNBC’s Ryan Browne Contributed to this Report