Bitcoin has taken a sharp dive, hitting its lowest point in over three months as Wall Street investors offload their holdings. The sell-off wiped out all net inflows into US cryptocurrency funds for the year, sparking debate over whether the digital asset boom fueled by Donald Trump’s policies has peaked.
The world’s largest cryptocurrency dropped to $US73,572.51 on Thursday, after earlier falling to $US72,695. The decline followed hot US inflation data, which raised concerns about higher interest rates and reduced demand for riskier assets like crypto.
Meanwhile, Australian investors appear unfazed by the downturn, adopting a laid-back attitude with the phrase ‘she’ll be right,’ suggesting confidence that the market will recover.