Bitcoin Suffers Fourth Straight Day of Losses Amid Broader Crypto Sell-off

The digital asset fell as much as 8,1 percent to its lowest level since February, changing hands at around $54.190 at 12:21 p.m

Bitcoin dropped on Monday, extending losses into a fourth session, as signs of waning demand for U.S. crypto exchange-traded funds (ETFs) and government sales of seized tokens weighed on the digital asset.

* Bitcoin fell as much as 8.1% to its lowest since Feb. 23, trading at around $54,190 by 12:21 p.m. ET (1621 GMT).

* Smaller coins clocked steeper losses, with Ether down 10.2%, XRP off 11.3% and Cardan dropping 14.2% in some cases, according to Nezavisne novine.

* Crypto speculators faced a slew of challenges on Monday, including signs of waning demand for U.S. crypto exchange-traded funds and government sales of seized tokens, as well as the impact of political shifts in the United States that were proving difficult to parse.

* Also on Monday, the administrators of failed crypto exchange Mt. Gox began returning promised bitcoins to creditors, in a move that could roil markets. It is unclear how much of the $8 billion in tokens will be sold.

* A wallet linked to Mt. Gox moved $2.7 billion in tokens on Friday, according to Arkham Intelligence.

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