News
Bitcoin Extends Losses for Fourth Straight Session (Cryptocurrency: BTC-USD)
Bitcoin (BTC-USD exchange rate) continued to decline on Friday, falling below $56,000, its lowest level in four months.
The sell-off comes after the Japanese stock market closed Mount Gox has started its payment process. On Friday morning, the company said it has begun refunding its customers in Bitcoin and Bitcoin Cash.
According to media reports, the payment includes tokens worth approximately $9 billion.
The cryptocurrency fell 3.3% to $55.1K by 6:44 AM ET. The world’s biggest cryptocurrency crash continued after falling 5% in intraday trading on Thursday amid concerns over Mt. Gox handing out a large amount of BTC to its creditors and the German government moving its BTC stash to cryptocurrency exchanges.
Friday marks the fourth consecutive session of losses for BTC.
The drop in BTC price also caused cryptocurrency-related stocks to tumble in pre-market trading: Marathon Digital (MARA) -6.3%, CleanSpark (CLSK) -5.4%, Coinbase Global (CURRENCY) -6%, Riot Platforms (REVOLT) -5.6%, MicroStrategy (MSTR) -6.4%, Bitdeer Technologies (BTDR) -9.2%, Digital Bit (BTBT) -7.2%.