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.
Related posts
-
How High Can Bitcoin Go In 2025? Legendary Trader Reveals
Este artículo también está disponible en español. Legendary trader Peter Brandt, with nearly five decades of... -
Michael Novogratz's Galaxy Looks to Turn Bitcoin Mining Into AI Computing as Revenue Falls
The firm signed a non-binding deal with a hyperscaler firm to potentially allocate all of its... -
Ether, Touted as Internet Bond, May Top $3K on Fed Rate Cut, Outperform Bitcoin
Elevated interest rates in the U.S. have dented ether’s appeal as the internet equivalent of a...