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As of May 3, 2025, Bitcoin (BTC) is trading at approximately S$109,537 per BTC. This marks a 2.1% decline from the previous day and a 1.1% decrease over the past week. Over the last month, Bitcoin has experienced a 15.3% decline against the Singapore Dollar (SGD). Despite this recent downturn, Bitcoin has shown a 21.9% increase over the past year.

Recent Performance

In the past week, Bitcoin's value fluctuated between a high of S$112,874 on March 16, 2025, and a low of S$108,340 on March 14, 2025. The most significant 24-hour price movement occurred on March 12, 2025, with an increase of S$5,179.43 (4.9%).

Historical Context

Looking back to October 2023, Bitcoin was valued at S$46,997.82 on October 31, 2023. This indicates a substantial increase of approximately 133% over the 18-month period leading up to May 2025.

Market Capitalization and Trading Volume

Bitcoin's current market capitalization stands at S$2,171,550,697,750, with a 24-hour trading volume of S$28,301,782,884. The circulating supply is 19,838,665 BTC out of a maximum supply of 21,000,000 BTC.

Factors Influencing BTC/SGD Exchange Rate

Several factors contribute to the fluctuations in the BTC/SGD exchange rate:

• Global Economic Conditions: Economic events and policies worldwide can impact investor sentiment and the demand for cryptocurrencies.

• Regulatory Developments: Changes in cryptocurrency regulations, both in Singapore and globally, can influence Bitcoin's value.

• Market Sentiment: Public perception and media coverage can lead to rapid changes in Bitcoin's price.

• Technological Advancements: Developments in blockchain technology and Bitcoin's infrastructure can affect its adoption and value.

Conclusion

While Bitcoin has experienced short-term volatility, its long-term trend shows significant growth against the Singapore Dollar. Investors should remain aware of the various factors that can influence Bitcoin's value and consider their risk tolerance when engaging in cryptocurrency investments.