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Wall Street is dumping bitcoin. Australians reckon ‘she’ll be right’
A wave of selling has sent bitcoin tumbling to its lowest level in more than three months, erasing this year’s net inflows into US cryptocurrency funds and raising questions about whether the Donald Trump-fuelled digital asset boom has run its course.
The world’s largest cryptocurrency was trading at $US73,572.51 on Thursday, having fallen to $US72,695 earlier in the week after hot US inflation data that raised the prospect of higher interest rates and dented the appeal of risk assets such as crypto.
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Bitcoin Just Crashed Toward $66,000. History Says the Worst May Not Be Over
Bitcoin sits 47% below its October 2025 record, and past cycles fell 70% to 82% one year after peaking, so deeper losses remain possible.
Spot Bitcoin ETFs have bled money since October, with the last three sessions all posting outflows as cumulative inflows dropped from $58 billion to $55 billion.
Goldman Sachs added another Fed rate hike to its outlook after hot inflation data, while the 10-year Treasury yield hit 5% and competes with Bitcoin.
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