Bitcoin dropped back below $40,000, erasing almost all the gains sparked by optimism about US President Joe Biden’s executive order to focus more on the crypto sector.

The largest cryptocurrency declined as much as 7.2 per cent to $38,894 on Thursday, falling for the first time in three days.

• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others
• India, Canada Hold Talks to Resume Trade Pact Negotiations
• Subros Shares Trade Positive on Securing Rs 52 Crore Order 
• Government Drops Mandatory Sanchar Saathi Pre-Installation Rule

Most of the top cryptocurrencies were down at least slightly in the 24 hours to 4:15 p.m, Hong Kong time.