Bitcoin declines 3% to its lowest levels since June 25

Crypto market leader Bitcoin was trading at $60,283.8, down 2.83 percent on July 3

Bitcoin on July 3 slipped over three percent amid reports of trading platform Robinhood planning to launch crypto futures in the US and Europe.

The crypto market leader was trading at $60,283.8, down 2.83 percent on July 3. On June 24, the digital asset had slipped to a low of $60,263.

Several other cryptocurrencies were also trading in the red. The second-most valued digital asset Ethereum was trading at $3,308.98, lower by 3.13 percent, while Tether was flat at $1.

Binance Coin was quoting a price of $560.85, down 3.12 percent in the red.

On July 2, Bloomberg reported that Robinhood Markets is considering offering cryptocurrency futures in the US and Europe in the coming months, citing people familiar with the matter.

The commission-free trading app is hoping to use the licenses of crypto exchange Bitstamp, which it agreed to buy last month in a $200-million deal, once the transaction closes next year, the report said.

It also wants to launch CME-based futures in the US for Bitcoin and Ether.

Meanwhile, CNBC on July 2 reported that Bitcoin is yet to hit its peak of the current cycle and could do so by the end of the year.

Bitcoin had crossed an all-time high of $73,700 in March this year. However, it has since been trading between $59,000 and $72,000.

(With inputs from Reuters)