10:24 AM EDT, 07/05/2024 (MT Newswires) -- Cryptocurrency stocks fell in recent Friday trading as bitcoin slumped.

MicroStrategy ( MSTR ) tumbled 6.7%, Coinbase (COIN) dropped 4.3%, Robinhood (HOOD) declined 2.8%, Marathon Digital ( MARA ) fell 5.7% and Riot Platforms ( RIOT ) shed 3.7%.

Bitcoin touched $53,523, the lowest since February, and was headed for the biggest weekly drop in more than a year.

Traders believe that insolvent Japanese crypto exchange Mt. Gox is on the verge of returning tokens to creditors, who are then expected to sell them, Reuters reported.

Price: 1214.60, Change: -87.49, Percent Change: -6.72