Technology

Bitcoin slides 5% as profit-taking sweeps crypto

 Bitcoin fell by as much as 5.7% on Tuesday in its largest one-day drop in two weeks, as a wave of selling hit cryptocurrencies and other risk assets, such as stocks.

The price was last down 5.25% at $63,806, having hit a two-week low of $63,555, while ether dropped 5.1% to $3,326.

Bitcoin is still showing a 52% gain for the year so far, as investors have piled into U.S. exchange-traded funds backed by spot bitcoin.

GLOBAL BUSINESS AND FINANCE MAGAZINE

Recent Posts

Trump’s mortgage-backed bond purchases not moving needle on housing costs

Experts say $200bln bond-buying effort unlikely to significantly lower housing costs.  There's scant evidence so…

10 hours ago

Trump tariff shift calms European bond market

That has helped ⁠at least to put a floor under euro zone bond prices. Euro…

10 hours ago

Vision 2030 projects may drive corporate loans by Saudi banks to $75bln in 2026

Bank profitability will remain strong this year despite lower interest rates, says S&P. Saudi banks…

10 hours ago

Europe’s emissions trading system is an ally, not an enemy, of industrial competitiveness

The 2026 review of the EU ETS must be anchored in facts and focus on…

10 hours ago

How the Fed makes decisions: Disagreement, beliefs, and the power of the Chair

Federal Open Market Committee statements typically sound unanimous, but the Committee’s internal debates rarely are.…

10 hours ago

Femicides, anti-violence centres, and policy targeting

Local responses to gender-based violence, with femicide as its most extreme form, remain uneven across…

10 hours ago