After briefly crossing above $71,000 in early June, Bitcoin (BTC) has since entered into its biggest downturn of 2024. Indeed, the cryptocurrency first lost its relatively stable, multi-month level near $67,000 and then collapsed through several consecutive support zones.
By July 5, Bitcoin price stood at $54,413 – the lowest it has been since late February.
BTC 30-day price chart. Source: Finbold
Though there are many possible explanations for BTC’s fall, investors have increasingly been looking at a convergence of events, all carrying the danger of significant selling pressure.
For weeks, the German government has been moving the nearly 50,000 Bitcoin it announced seized at the start of 2024 onto crypto exchanges, and cryptocurrencies in U.S. custody have also been on the move.
Finally, in the small hours of July 5, Mt. Gox, a Bitcoin exchange that went bankrupt a decade earlier, announced it would finally begin repaying its creditors – a move that has been anticip
We współpracy z: https://finbold.com/will-mt-gox-repayments-crash-bitcoin-below-50000/
