Losses are piling up in the crypto market after its second-worst weekly decline of 2024, a reflection of cooling demand for Bitcoin exchange-traded funds and uncertainty over monetary policy.
Bitcoin shed as much as 8.1% to $58,528 on Monday, the biggest intraday decline since April 13. The leading token by market value has been buffeted by two weeks of outflows from exchange-traded products holding the cryptocurrency. More than $210 million worth of bullish bets in crypto were liquidated in the past 12 hours, according to data compiled by tracker Coinglass.
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Sidhartha Shukla
https://www.bloomberg.com/news/articles/2024-06-24/bitcoin-btc-extends-drop-after-one-of-crypto-s-worst-weeks-of-2024
2024-06-24 07:00:00
