Cryptocurrencies
Bitcoin Pares Early Loss After First Weekly Drop Since Trump Won
- Digital asset fell as central bank pared rate-cut projections
- FalconX says looming options expiries may spur more volatility
Bitcoin was down more than 7% for the seven-day period through 2:50 p.m. Sunday in New York.
Photographer: Justin Chin/BloombergBitcoin pared earlier losses after capping its first weekly decline since Donald Trump’s election victory, while many smaller tokens turned higher on the day.
The largest digital asset was down 1.2% at about $93,962 at 4:39 p.m. in New York after dropping 2.8% earlier Monday. It has plunged about 13% from its last record on Dec. 17. A wider crypto market gauge, encompassing smaller tokens such as Ether and meme-crowd favorite Dogecoin, reversed losses to trade up more than 1%. Dogecoin itself rallied almost 4%.