Bitcoin drops nearly 3% to near $90,000 as traders assess market uncertainties

Bitcoin experienced its largest two-day drop since the US election, falling nearly 3% over the weekend. It was trading at $90,100 on Monday morning in Singapore, reflecting caution in global markets amid uncertainties about President-elect Donald Trump's policies. Traders are concerned about the feasibility of Trump's pro-crypto promises, including a US Bitcoin stockpile. The stock market's optimism is being tempered by inflation risks and reduced expectations for Federal Reserve interest-rate cuts, which could affect demand for cryptocurrencies. Despite the recent decline, Bitcoin saw significant inflows into US exchange-traded funds, totaling $4.7 billion from November 6 to November 13. However, about $771 million was withdrawn from these funds in the following days.