Bitcoin Drops to $57,300, Marking a 2-Month Low
Crypto market sentiment has shifted back to fear as panic selling intensifies among investors, triggered by the upcoming Mt. Gox repayment.
Starting this week, the repayment process involves $10 billion in BTC and BCH.
Both JPMorgan and CoinShares have cautioned about potential market upheaval, as there’s concern that creditors might sell off their assets.
At the time of writing BTC dropped to $57,300 after a 5.2% decline and a $36.7 billion trading volume. This significant drop marks a 2-month low for the cryptocurrency.
READ MORE: Mike Novogratz Bullish on Crypto Regulations and Bitcoin’s Future
Ethereum (ETH) witnessed a 5.8% decline in the past 24 hours and is now trading at $3,150 with a $19.5 billion trading volume.
During this time $317.35 million were liquidated from the market ($285.53 million in longs and $31.82 milliona in shorts.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
