Bitcoin hits over 3-month low, reversing gains post Trump election

Investor sentiment was also soured by news that Bybit, a major cryptocurrency exchange, suffered a $1.5 billion hack in what's estimated to be the largest crypto heist in history.
"It seems that the market has become volatile in reaction to the Bybit incident," Jeff Mei, chief operating officer at crypto exchange BTSE said in a statement sent to CNBC, adding that inflation concerns and a pause in Fed rate cuts in the U.S. have also suppressed markets.
Still, some crypto bulls remain positive on Bitcoin's outlook as they await key regulatory developments from the Trump administration.
Already, Trump has signed an executive order promoting the advancement of cryptocurrencies in the U.S. and developing a national digital asset stockpile. Meanwhile, his administration has created task forces and a "crypto czar" tasked with supporting a clear regulatory framework for crypto assets.