Bitcoin Falls to $60K As Mt Gox Repayment Looms
Release: 2024/07/03 21:58 Reading: 602
Bitcoin Dips to $60K Amid Mt. Gox Repayment Expectations
Bitcoin has experienced a decline, dropping to $60,000 during Wednesday's European trading session. This represents a 4% decrease within the past 24 hours. The downturn has impacted other major cryptocurrencies as well, with Ethereum, Solana, and Dogecoin experiencing approximately 3% losses each.
These declines follow a halt in the five-day inflow streak for U.S. spot BTC ETFs. Outflows of $13 million were recorded on Tuesday. Additionally, there are concerns about potential selling pressure from the upcoming Mt. Gox distribution.
QCP Capital has noted, "The Mt Gox release is also expected to occur this week." The uncertainty surrounding the release schedule of up to 140,000 BTC is believed to be weighing on the market.
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