Bitcoin slumped to the lowest since the end of February as Mt. Gox moved a sizeable amount of BTC to a new wallet, potentially preparing for creditor payments. BTC fell to as low as $53,6000 but has subsequently rebounded to just over $55,000, a drop of 4.75% in the last 24 hours. The broader digital asset market, as measured by the CoinDesk 20 Index (CD20), slid around 6.85%. Impending Mt. Gox repayments include 140,000 BTC ($7.3 billion). There have been concerns that creditors will sell their coins immediately on receipt, creating mass selling pressure in the market.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CoinDesk – https://www.coindesk.com/markets/2024/07/05/first-mover-americas-bitcoin-slumps-below-54k-as-mt-gox-flags-repayments/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
