Bitcoin price drops to $54,190, down 8.1% since February, along with other cryptocurrencies.

From Yahoo Finance: 2024-07-05 00:29:42

Bitcoin has dropped for four straight sessions, reaching $54,190, down 8.1% since February. Other cryptocurrencies like Ether, XRP, and Cardano have also seen losses exceeding 10%. Challenges like reduced demand for US Bitcoin ETFs and governments selling seized tokens are affecting the crypto market. Mt. Gox administrators are returning $8 billion worth of Bitcoin to creditors, causing uncertainty. The correlation between Bitcoin and global stocks is waning, with many speculators uncertain about the market. Over $800 million in bullish crypto bets were liquidated in the past three days, adding to market instability. Bitcoin miners are selling tokens to offset losses from April’s halving.



Read more at Yahoo Finance: Bitcoin Falls to Lowest Since February Even as Stocks Hit Record