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Bitcoin plunges as crypto feels trade war pain

Suvashree Ghosh / Bloomberg
Suvashree Ghosh / Bloomberg • 2 min read
Bitcoin plunges as crypto feels trade war pain
Monday’s sell-off suggests the high positive correlation between crypto and the Nasdaq 100 that has prevailed since the Covid-19 pandemic may persist. Photo: Bloomberg
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Cryptocurrencies sold off sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets. 

Bitcoin shed about 7% of its value from Sunday night through to Monday morning in Singapore to reach a low point of US$77,077 ($104,042.77).

Second-ranked token Ether plummeted to US$1,538, an intra-day low not seen since October 2023. Both Bitcoin and Ether later pared losses. 

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