Why Bitcoin Price Drops Below $60K | Mt. Gox Update | Key Points | June 25, 2024

Bitcoin's price has fallen below $60,000, its lowest since early May, due to concerns over impending repayments to Mt. Gox creditors

Crypto Price Update

Here are the crypto highlights of the day:

Bitcoin’s price fell below $60,000 for the first time since early May amid concerns over impending repayments to Mt. Gox creditors.

Why it matters: The market is worried that creditors, who will start receiving their Bitcoin and Bitcoin Cash next week, might sell their coins immediately, potentially flooding the market and driving prices down further.

Key numbers:

What else are jittering the prices: The Mt. Gox story is on top of news about the recent outflows from U.S. Bitcoin ETFs and investor pessimism over potential interest rate cuts by the Federal Reserve.

What to watch: You should monitor the market response once Mt. Gox repayments begin next week and the potential impact of large-scale sell-offs by creditors.

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This article is published on BitPinas: Why Bitcoin Price Drops Below $60K | Mt. Gox Update | Key Points | June 25, 2024

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News source：https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-price-drops-k-mt-gox-update-key-june.html

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