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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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Bitcoin Drops Below $87K: Trump’s Policies Shake Crypto Confidence

 Bitcoin’s Rally Stalls Amid Market Uncertainty

  • Bitcoin (BTC/USD) hit an all-time high of $109,225 on Jan. 20 following Trump’s inauguration, fueled by hopes of deregulation and a U.S. bitcoin reserve.
  • Since then, BTC has fallen over 20% to $87,080, with a 7.3% drop on Tuesday alone.
  • Support levels now sit at $70,000 - $75,000, according to market analysts.

What’s Driving the Decline?

  1. Regulatory Uncertainty:

    • Optimism over a Trump-led pro-crypto environment has been priced in, but no concrete policy changes have materialized.
    • A crypto working group has been formed but won’t submit recommendations for another 180 days.

  2. Scandals & Hacks:

    • Argentina’s President Javier Milei faced backlash after a meme coin he promoted, Libra, crashed.
    • Bybit, a top crypto exchange, suffered a $1.4 billion hack, raising security concerns.

  3. Trump’s Trade Policies & Inflation Fears:

    • New tariff threats—especially on semiconductors to China—could fuel inflation, impacting risk assets like crypto.
    • Investors are seeing “bitter medicine” (tariffs, layoffs) but no “spoonful of sugar” (tax cuts, deregulation) yet.

Outlook: Can Bitcoin Recover?

  • Bitcoin’s next rally depends on clear crypto-friendly policies from Trump’s administration.
  • If market uncertainty persists, BTC could test the $70K-$75K range in the coming weeks.

Summary:

  • Bitcoin tumbles 20% from its peak, falling below $87K due to regulatory uncertainty and macroeconomic concerns.
  • Crypto market hit by scandals & security breaches, shaking investor confidence.
  • Trump’s tariffs & inflation fears weigh on risk assets, contributing to Bitcoin’s pullback.
  • Future price action hinges on clear regulatory steps from the administration.
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