Bitcoin has dropped below $58k for the first time in two months today, on 4th of July 2024. There are reports also that $54.9 million in Bitcoin long positions have been liquidated in the last 24 hours,
Many experts are pointing out the fact that the Mt.Gox selling pressure news has caused this latest dump in $BTC price while some are even pointing out at the inability of the $ETH ETF to get launched on the proposed date of 2nd July 2024.
Mt. Gox themselves is supposed to start the repayment of more than $8B in $BTC back in early July. This adds $8B worth of Bitcoin back into the market that were locked up so far.
The new date (speculated) for the $ETH Spot ETF is 8th of July 2024.
