Bitcoin briefly dips under $80,000, heads for its worst week since 2022 FTX collapse

A week-long rout in bitcoin worsened Friday, with the digital asset hitting another three-month low overnight amid fresh trade tensions. The price of bitcoin was last lower by 1.9% at $81,539.64, according to Coin Metrics. Earlier, it fell as low as $78,226.23. The blue-chip coin is down more than 14% for the week and on pace for its worst week since November 2022, which was around the time of the FTX collapse. It's also heading for its worst month since June 2022. A broader risk-off move this week knocked bitcoin to its lowest levels in three months and put it more than 25% off its all-time high, reached in January on President Donald Trump's inauguration day. Investors have been shunning assets perceived to be risky given the weakness in global equity markets and amid uncertainty surrounding the new president's tariff policy and resolutions to the Russia-Ukraine and Israel-Gaza wars. There could be more of the same in the new month ahead, with bitcoin expected to be at the mercy ... Read full article.