Yahoo Finance UK reporter Pedro Goncalves writes:
Bitcoin was trading lower on Monday as the crypto market recorded its second-worst weekly drop of 2024 amid cooling demand for crypto ETFs.
Bitcoin has now fallen below $63,000 (£49,750), nursing steep losses over the past week as traders grew sceptical over the timing of interest rate cuts by the Federal Reserve.
For some analysts, the retreat in digital assets is a warning sign for broader risk appetite, according to Bloomberg.
The cryptocurrency is at a more than one-month low, hurt by a six-day streak of outflows from US ETFs for the token.
Bitcoin hit a record of $73,798 in March but is trailing traditional assets such stocks, bonds and gold this quarter.