Bitcoin set for worst week in nearly a year on Mt. Gox liquidation fears

FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK/SINGAPORE/LONDON (Reuters) -Bitcoin was set for its biggest weekly fall in nearly a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox and further selling by leveraged players after the cryptocurrency's strong run.

The price of the world's largest cryptocurrency slid as much as 8% on the day to $53,523, its lowest since late February. It was last trading at $56,565, down more than 3% on the day.