Bitcoin Falls to $60K As Mt Gox Repayment Looms

Crypto Live News

Bitcoin fell to $60,000 during the European morning on Wednesday as it dropped 4% in the last 24 hours. This downturn also affected other major cryptocurrencies, with Ethereum, Solana, and Dogecoin each falling roughly 3%. The declines came after U.S. spot BTC ETFs snapped a five-day streak of inflows, recording $13 million of outflows on Tuesday. There are also concerns of further selling pressure from distributions by defunct crypto exchange Mt. Gox. QCP Capital stated that ‘The Mt Gox release is also slated to happen this week’ and ‘This overhang of up to 140,000 BTC should continue to weigh on markets, especially since the exact release schedule is unknown right now’.