Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Falls
Below $
57,000
as Mt. Gox
Trustee Sends
Test Transactions:
Arkham
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Falls Below $57,000 as Mt. Gox Trustee Sends Test Transactions: Arkham
“Only ill-informed traders are willing to buy here," wrote 10x Research.
"Breaking this support could cause a sharp decline to the low $50,000s."
By Murtuza Merchant
Jul 4, 2024 Jul 4, 2024
3 min read
Image: PurpleRender/Shutterstock
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In a significant market downturn, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin price has fallen below the
$57,000 mark, reaching a low of $56,950 in early European trading hours on
Thursday.
This price point has not been this low since early May and represents a drop
below the crucial 200-day moving average of $58,492.
The world's largest cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта by market capitalization has now
experienced a three-day decline, raising concerns among investors and analysts
alike.
The sudden price drop can be attributed to several factors, according to
market experts.
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One notable development is the German government's transfer of
approximately 1,300 BTC, valued at $75.53 million, to major cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
exchanges Bitstamp, Coinbase, and Kraken.
This transaction, reported by blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн analytics firm Arkham, marks the
largest transfer to centralized exchanges in recent times and has likely
contributed to increased selling pressure.
Adding to the market uncertainty are the anticipated Mt. Gox repayments, which
are expected to commence in early July. According to data from Arkham
Intelligence, several wallets linked to Mt. Gox made minor Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin transfers
earlier today. It's the first time they've been active in a week.
Part of the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin was sent to a wallet identified by Arkham as belonging to
Bitbank, one of the exchanges selected to manage Mt. Gox creditor repayments.
Arkham Intelligence detailed that these transactions involved three wallets
connected to the defunct exchange, with the largest transfer being
approximately $24.
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This is believed to be a test transaction in preparation for the substantial
customer repayments scheduled for this month.
This long-awaited distribution will see over $9.4 billion worth of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
returned to approximately 127,000 creditors who have been awaiting
reimbursement for over a decade.
The influx of such a significant amount of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin into circulation could
exert further downward pressure on the market.
The price decline has also triggered a wave of liquidations in the derivatives
market.
According to data from CoinGlass, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin liquidations have reached $100.4
million, with over $86 million worth of leveraged long positions being
forcibly closed.
According to 10x Research, $60,000 was a key level for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miners and
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Spot ETF buyers, and it also broadly marked the bottom of the
three-month trading range.
“Only ill-informed traders are willing to buy here. Breaking this support
could cause a sharp decline to the low $50,000s,” the report stated.
“Unfortunately, many appear to be still very long Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, while a correction
towards $50,000/$55,000 could have offered much better re-entry levels,” it
added.
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Bitfinex analysts told Decrypt that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has decoupled from U.S• Соединённые Штаты Америки (США). equities,
while long-term Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin holders—who had paused on any selling in early
May—have returned.
“In the meantime, an overhang of supply continues to weigh on the market, with
selling possible from Mt. Gox depositors and the Bundeskriminalamt, Germany• Германия’s
Federal Criminal Police Office, who may be tempted to dispose of their recent
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin windfall,” the analysts stated.
Edited by Stacy Elliott .
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