rabby

Bitcoin has dropped for a fourth consecutive trading session, part of a broader cryptocurrency selloff that contrasts with recent record highs in global stocks.

The digital asset has lost 5.7% in 24 hours, now trading at around $55,700 as of July 5, while smaller coins like Ether and XRP have also experienced losses.

Crypto speculators currently face various challenges, including waning demand for US Bitcoin exchange-traded funds, signs that governments are disposing of seized tokens, and the difficult-to-interpret impact of US political turmoil.

Additionally, the administrators of the failed Mt. Gox exchange are gradually returning a hoard of Bitcoin to creditors. Speculators are uncertain how much of the $8 billion haul will be sold. A Mt. Gox-linked wallet moved $2.7 billion worth of Bitcoin on Friday, according to Arkham Intelligence.

@crypto_smooth (https://t.me/crypto_smooth_canal)