News Explorer — Bitcoin Falls Below $55,000 as Liquidations Pile Up

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Jul 8, 2:48 am

Decrypt

Bitcoin Falls Below $55,000 as Liquidations Pile Up

Despite recovering from losses at the end of last week, Bitcoin fell 6% to $54,600 over the weekend. The drop was influenced by various factors, including market uncertainty, potential selling pressure from the German government, and the upcoming distribution of funds to Mt. Gox creditors. The liquidation of long and short positions in the crypto market has amounted to $210 million.

Despite recovering from losses at the end of last week, Bitcoin fell 6% to $54,600 over the weekend. The drop was influenced by various factors, including market uncertainty, potential selling pressure from the German government, and the upcoming distribution of funds to Mt. Gox creditors. The liquidation of long and short positions in the crypto market has amounted to $210 million.

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