The world's largest cryptocurrency Bitcoin continues its losing chain after the transfer of money by Mt. Gox.
Volatility of leading cryptocurrencies in the crypto market at 10:25 AM on July 5, 2024. Source: Coin360
As reported by Coin68 on the morning of July 5, the Bitcoin wallet of Mt. Gox suddenly transferred 47,299 BTC , worth $2.71 billion, to a new address.
Before that, Mt. Gox confirmed it will begin returning 142,000 BTC assets to customers this July, 10 years since the exchange was hacked in 2014, causing a loss of 850,000 BTC.
Bitcoin price in recent days has continuously decreased because of news about BTC sales transactions by German and American authorities , adjusting from 63,500 USD to 56,500 USD on July 4.
By 10:00 AM on July 5, the world's largest cryptocurrency continued to drop to 55,000 USD - the lowest price since February 2024.
4h chart of the BTC/ USDT pair on Binance at 10:25 AM on July 5, 2024
Meanwhile, Ethereum (ETH) was also affected, falling to 2,890 USD, the price range that this currency was adjusted to before the ETH ETF was approved in mid-May.
4h chart of the ETH/ USDT pair on Binance at 10:25 AM on July 5, 2024
The top 100 altcoins are currently recording a decrease of 10-20%.
Fluctuation in value of top 100 largest cryptocurrencies on the market, CryptoBubbles screenshot at 10:25 AM on July 5, 2024
The total value of Derivative orders liquidated in the last 1 hour reached 150 million USD, while in 4 hours it was 313 million USD, with the Longing side accounting for 93%.
Liquidation data on the Derivative market at 10:25 AM on July 5, 2024. Source: CoinGlass
The current market situation makes many people fear that the scenario of Bitcoin falling to $50,000 as indicated at the end of June is more real than ever.
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