News Explorer — Bitcoin Falls Below $60,000 as Crypto Liquidations Top $330 Million

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Jun 24, 5:32 pm

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Bitcoin Falls Below $60,000 as Crypto Liquidations Top $330 Million

Bitcoin has dropped below $60,000 for the first time since May, following the announcement that Mt. Gox creditors will start receiving repayments in Bitcoin and Bitcoin Cash. The market reacted with fear that the creditors would sell off their coins, potentially causing a significant capital outflow. Over $1.2 billion worth of assets has flowed out of U.S. Bitcoin ETFs in the past two weeks.

Bitcoin has dropped below $60,000 for the first time since May, following the announcement that Mt. Gox creditors will start receiving repayments in Bitcoin and Bitcoin Cash. The market reacted with fear that the creditors would sell off their coins, potentially causing a significant capital outflow. Over $1.2 billion worth of assets has flowed out of U.S. Bitcoin ETFs in the past two weeks.

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