Bitcoin price struggles around $66,000 as Mt. Gox funds movement weigh07/24/2024 07:00:00 GMT
FXStreet is struggling with the price of Bitcoin around $66,000 due to Mount Gox's fund transfers
07/24/2024 07:00:00 GMT
The movement of Mount Gox funds on Wednesday could have a negative impact on the price of Bitcoin.
Bitcoin Magazine reports speculation that Kamala Harris might attend the July Bitcoin conference with Donald Trump.
US spot Bitcoin ETFs recorded a slight outflow on Tuesday.
The price of Bitcoin (BTC) struggled at around $66,000 on Wednesday. US spot Bitcoin ETFs experienced a minor outflow on Tuesday, which coincides with the continued movement of Mount Gox funds to repay, which could put downward pressure on the price of Bitcoin.
Daily Digest Market Movers: Mt. Bitcoin falls 2.36% on Tuesday as Gox begins repayments
According to Lookonchain data, Mt. Gox moved 37,477 BTC worth 2.4 billion 70 million dollars on Wednesday. After 7/5, Mt. Gox transferred 52,549 BTC worth 3.3 billion 10 million dollars to Bitstamp, Kraken, and Bitbank for repayment. Mt. Since Gox currently holds 5.9 billion 50 million dollars in Bitcoin, this continued transfer of funds will cause FUD (fear, uncertainty, doubt) among traders and may contribute to the decline in the price of Bitcoin
The movement of Mount Gox funds on Wednesday could have a negative impact on the price of Bitcoin.
Bitcoin Magazine reports speculation that Kamala Harris might attend the July Bitcoin conference with Donald Trump.
US spot Bitcoin ETFs recorded a slight outflow on Tuesday.
The price of Bitcoin (BTC) struggled at around $66,000 on Wednesday. US spot Bitcoin ETFs experienced a minor outflow on Tuesday, which coincides with the continued movement of Mount Gox funds to repay, which could put downward pressure on the price of Bitcoin.
Daily Digest Market Movers: Mt. Bitcoin falls 2.36% on Tuesday as Gox begins repayments
According to Lookonchain data, Mt. Gox moved 37,477 BTC worth 2.4 billion 70 million dollars on Wednesday. After 7/5, Mt. Gox transferred 52,549 BTC worth 3.3 billion 10 million dollars to Bitstamp, Kraken, and Bitbank for repayment. Mt. Since Gox currently holds 5.9 billion 50 million dollars in Bitcoin, this continued transfer of funds will cause FUD (fear, uncertainty, doubt) among traders and may contribute to the decline in the price of Bitcoin
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Montefibre OP : If Mr. Harris is also recommending Bitcoin, is there no choice but to go up?