Bitcoin Extends Drop After One of Crypto’s Worst Weeks of 2024

A gauge of the largest 100 digital assets fell about 5% in the seven days through Sunday, the steepest such slide since April, data compiled by Bloomberg show. Bitcoin shed 4% to trade at $61,153 as of 11:44 a.m. Monday in London, a more than one-month low. The leading token by market value has been buffeted by a six-day streak of outflows from dedicated US ETFs.

Adding to fears of increased selling pressure, the rehabilitation trustee of Mt. Gox — the Japanese crypto exchange that was hacked more than a decade ago — announced that it would start repayments of Bitcoin and Bitcoin Cash in July.