Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Slips
Below $61,000
as Mt. Gox Repayments
Loom
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Slips Below $61,000 as Mt. Gox Repayments Loom
"This overhang of up to 140,000 BTC should continue to weigh on markets," QCP
Capital said of the impending Mt. Gox repayments.
By Murtuza Merchant
Jul 3, 2024 Jul 3, 2024
3 min read
Image: Chakkaphong Wanphukdee/Shutterstock
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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin experienced a notable drop in early Asian trading hours, falling from
$62,000 to $60,268, marking a 3% decline.
This downturn has also affected other major cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, with Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum,
Solana, and Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin each falling roughly 3%.
The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market is currently grappling with multiple pressures,
particularly the anticipated distribution of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin from the defunct Mt. Gox
exchange that’s expected to begin this month.
Singapore-based crypto trading firm QCP Capital highlighted the market's
focus on this issue.
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"The Mt Gox release is also slated to happen this week," the firm wrote in its
Telegram group• Объект организация » Организации по алфавиту » Организации на Te » Telegram Group Inc. . "This overhang of up to 140,000 BTC should continue to weigh
on markets, especially since the exact release schedule is unknown right now."
Despite these concerns, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has managed to find support above the $60,000
mark, while Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum remains above $3,300, a positive sign, according to QCP
Capital. Source: @ali_charts Twitter account
Crypto analyst Ali has pointed to significant liquidation risks in the market
if Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin manages to bounce and cross the psychological barrier of $62,000.
"Over $1 billion will be liquidated if #Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin now rebounds to $62,600," he
wrote this morning.
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He also identified critical resistance levels for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, stating, "One of
the most crucial resistance areas for #Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is $65,795. If $BTC can break
past this level, the next significant target is $78,700!" Source: @ali_charts
Twitter account
Tom Lee, managing partner and head of research at Fundstrat Global Advisors,
offered a longer-term perspective on the current market dynamics, in an
interview with CNBC .
"Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is probably struggling from the Mt. Gox starting distribution since
July that was a huge overhang for many years but if I was investing in crypto
knowing that one of the biggest overhangs is going to disappear in July, it’s
a reason to expect a strong rebound in the second half of the year."
Lee remains optimistic, suggesting that $15,000 for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is still within
reach, emphasizing that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin tends to make most of its gains within a
limited number of days each year.
The market is also closely monitoring developments related to cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
exchange-traded funds (ETFs).
QCP Capital noted the market's attention on the potential approval of a
spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETF, though they believe an approval this week is unlikely.
Meanwhile, adding to the negative sentiments, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin spot ETFs experienced a
net outflow of $13.6 million on July 2, following several days of net inflows,
according to data from SoSo Value.
Notably, Grayscale's ETF GBTC saw a single-day outflow of $32.3779
million, while BlackRock's ETF IBIT and Fidelity's ETF FBTC recorded
single-day inflows of $14.1 million and $5.4 million, respectively.
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Edited by Stacy Elliott .
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