The crypto market is experiencing significant losses following its second-worst weekly decline of 2024, driven by cooling demand for Bitcoin ETFs and monetary policy uncertainty. Bitcoin fell 8.1% to $58,528 on Monday, with over $210 million in bullish bets liquidated. Additionally, the rehabilitation trustee of Mt. Gox announced repayments starting in July, increasing selling pressure. Bitcoin investment products saw substantial outflows, and the market struggles with low volatility and unbalanced order books. Analysts note a bearish mood amid broader doubts about the Federal Reserve's interest rate policies.
