Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.
The most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday.
Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon .
It fell as much as 6% on Monday, and was last trading down 4.4% at $54,941. Rival cryptocurrency ether fell 7% to $1,798 after also hitting a record high on Saturday.
Traders said the move was largely technical, and not tied to any particular news catalyst.
“We did finally see some momentum gathering over the weekend, but weekend rallies haven’t been sustainable lately,” said Joseph Edwards of Enigma Securities, a cryptocurrency broker in London.
“We do tend to think that there’s a good chance of a down week and small correction coming in off of this, although it does little to dull medium-term prospects.”
Tesla boss Elon Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said on Saturday the price of bitcoin and ethereum seemed high.
Gulf states have backed a proposal aimed at reducing disruption to global oil trade by allowing Iran to collect voluntary fees from ships using the Strait of Hormuz, according to sources...
The United States has launched a review of its military presence in Europe, a move aimed at shifting greater responsibility for conventional defence onto European NATO allies. The decisi...
Updated 0850
Parliament begins Summer Recess After Approving Two Bills Linked to EU funds: Parliament rose for its summer recess on Monday after MPs approved two Bills tied to Malta's...
Updated 1105
Abela defends equality reforms as Borg says PN walk-out gave ‘voice to the voiceless’: Prime Minister Robert Abela defended the government’s Equality Bill after the Oppos...
The European Commission has unveiled an ambitious package of tax reforms aimed at simplifying tax rules across the European Union, reducing compliance burdens for businesses and strength...
The European Union's new Migration and Asylum Pact enters into force on 12 June, ushering in the most significant reform of the bloc's migration framework in years and placing renewed em...
FinanceMalta is exploring new opportunities to strengthen Malta’s presence in the United States, following enhanced connectivity between the two countries and growing interest in interna...
GO Ventures, the corporate venture capital arm of GO plc, has invested in Jericho Security, a New York-based cybersecurity company developing artificial intelligence tools to help organi...
FinanceMalta is exploring new opportunities to strengthen Malta’s presence in the United States, following enhanced connectivity between the two countries and growing interest in interna...
The European Parliament has approved a major new initiative aimed at reducing workplace accidents and strengthening worker protection across the European Union, as concerns continue to g...
FinanceMalta is exploring new opportunities to strengthen Malta’s presence in the United States, following enhanced connectivity between the two countries and growing interest in interna...
GO Ventures, the corporate venture capital arm of GO plc, has invested in Jericho Security, a New York-based cybersecurity company developing artificial intelligence tools to help organi...
Gulf states have backed a proposal aimed at reducing disruption to global oil trade by allowing Iran to collect voluntary fees from ships using the Strait of Hormuz, according to sources...
The United States and Iran have paused military strikes for a third consecutive night as both sides seek to give diplomacy another opportunity after nearly two weeks of escalating confli...
At least 32 people have been killed and more than 700 injured after two powerful earthquakes — measuring 7.2 and 7.5 — struck central Venezuela seconds apart, causing widespread destruct...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
Ukraine is aiming to develop a prototype of a new European anti-ballistic missile defence system by the first half of 2027, as Kyiv pushes allies to create a home-grown alternative to US...
Ukraine has recaptured 700 sq km (270 sq miles) of its territory this year, outgoing Commander in Chief Oleksandr Syrskyi said on Wednesday, confirming he was leaving the top military ...
