Bitcoin extends drop after one of crypto’s worst weeks of 2024: Report

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.

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.