Bitcoin Rebounds as Market Awaits Mt. Gox Payouts, Fed Rate Decision
- 王林Original
- 2024-07-02 04:11:56936browse
Bitcoin rose on Monday, recovering some of its recent losses, although sentiment toward the token and broader cryptocurrency markets remained largely negative.
Bitcoin rose on Monday, recouping some recent losses, though sentiment towards the token and broader cryptocurrency markets remained largely negative.
Markets were on edge ahead of a large expected sell-off as bankrupt exchange Mt. Gox prepares to start repaying stolen tokens this week.
Liquidators of Mt. Gox announced the start of the distribution of bitcoins stolen in the 2014 hack in early July.
Traders expect that most recipients of these tokens will be driven to sell them, given the huge increase in the price of bitcoin over the past decade, which could unleash a wave of selling pressure and led to a sharp drop in crypto prices in late June.
Anticipation of fresh U.S. interest rate data and other key economic readings also kept financial markets on edge.
Bitcoin's price rose 4% over 24 hours to reach $63,259, also helped by a weaker dollar, which lost about 0.2% on Monday.
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Amid broader fears of a downturn in bitcoin prices, crypto investment products also recorded outflows for a second straight week.
Elsewhere in cryptocurrency markets, altcoin prices rose on Monday, recovering from steep losses clocked in June.
Ether, the world's second-largest token, gained 3.7% to $3,490.79, also helped by hopes that the SEC could approve an ether spot exchange-traded fund this week.
SOL, XRP, and ADA rose between 1.5% and 8%, though trading volumes were thin.
Meme tokens DOGE and SHIB each rose over 4%.
Sentiment in cryptocurrency markets was set to remain on edge ahead of further U.S. updates on interest rates.
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