Markets

Bitcoin (BTC) Extends Slump After One of Crypto’s Worst Weeks of 2024

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10 months ago

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Losses are piling up in the cryptocurrency market after its second-worst weekly decline in 2024, a reflection of falling demand for Bitcoin exchange-traded funds and uncertainty over monetary policy.

Bitcoin fell as much as 8.1% to $58,528 on Monday, its biggest intraday decline since April 13. The leading token by market cap has been hit by two weeks of outflows from exchange-traded products holding the cryptocurrency. More than $210 million worth of bullish bets on the crypto have been liquidated in the past 12 hours, according to data compiled by tracker Coinglass.

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