Bitcoin prices fell 0.1% to $58,238.5 on Friday, with the cryptocurrency poised for a modest 1% gain this week. Despite a recovery in global stocks, Bitcoin’s performance was hindered by fears of additional token distributions by Mt. Gox and ongoing regulatory uncertainties.
The decline came amid a brief rebound in the U.S. dollar and reports that Mt. Gox, the defunct exchange, is planning to release more Bitcoin to compensate victims of its 2014 hack. This development, coupled with uncertainty surrounding the 2024 U.S. presidential election, contributed to cautious sentiment in the crypto market.
Broader crypto assets also saw declines, with Ether dropping 1.4% to $2,600.94, marking its fourth consecutive week of losses. XRP, ADA, and SOL remained flat, while meme token DOGE fell 0.9%.
