Bitcoin falls 5.5% to nearly $61,000 in 3 weeks

​​​​​​​By Ovunc Kutlu

ISTANBUL (AA) - The price of Bitcoin continued to fall Friday, reaching nearly $61,000 in almost three weeks.

Bitcoin saw its price dive to as low as $61,340 during the day, trading around that level for the first time since July 14.

The world's biggest cryptocurrency was trading around $61,890 at 6.20 p.m. EDT for a daily loss of 5.5%.

Ethereum, the world's largest altcoin by market cap, was trading at $2,990 for a daily decrease of 6.4%.

The value of the cryptocurrency market stood at $2.21 trillion, falling 4.77% for the day, according to CoinMarketCap, a digital asset price-tracking website.

Bitcoin climbed to as high as $69,992 last Sunday after US Republican presidential candidate Donald Trump laid out his plan to ensure that the US will be "the crypto capital of the planet and the Bitcoin superpower of the world."

"If crypto is going to define the future, I want it mined, minted and made in the USA," he said Saturday at the Bitcoin Conference in Nashville, Tennessee.

"It is not going to be made anywhere else," he said. "Bitcoin is going to the moon and I want America to be the nation that leads the way."

Spot Ethereum exchange-traded funds (ETFs) saw a total of $518.3 million in net outflows since they started trading on major US stock exchanges including Nasdaq and the NYSE Arca and the Chicago Board Options Exchange (CBOE) since July 23.

Net inflows of spot Bitcoin ETFs have surpassed $17.6 billion since they started trading in January, according to data from Farside Investors, a London-based investment management company that specializes in global equities and cryptocurrency.