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Bitcoin headed for the biggest drop in more than two weeks, as a rebound that saw the digital asset bounce almost 18 percent from the year\u2019s lows ran out of steam.<\/p>\n
The largest cryptocurrency dropped as much as 6% on Wednesday, putting it on course for its worst day since June 22, according to composite prices compiled by Bloomberg at 7:42 a.m. in New York.<\/p>\n
The move was reflected in its peers, with Ripple, Ethereum and Litecoin all falling more than 4%.<\/p>\n
Rallies in digital tokens have been rare this year, with momentum lacking as apathy with last year\u2019s hottest asset class grew. The currencies have struggled to retain speculator interest as a mania that saw Bitcoin rise 1,400 percent in 12 months appeared to have run its course.<\/p>\n
The lack of interest was reflected in traded volumes, which in June plunged to the lowest level in more than a year, according to data from exchange Bitstamp Ltd, compiled by Bloomberg.<\/p>\n
Worldwide searches for the term “Bitcoin” hovered near the lowest level in a year, according to Google Trends data.<\/p>\n
Tweets that mention the coin peaked Dec. 7, at 155,600, and are now down to about 30,000 per day, BitInfoCharts said.<\/p>\n