$BTC updates
The recent decline in Bitcoin's price, which fell below $60,000, may be attributed to the upcoming repayment of Mt. Gox creditors' assets in early July. This repayment plan has led to a change in supply and demand dynamics, causing many institutions to become bearish. As a result, there has been a collective sell-off, contributing to the current breakout of BTC. The prevailing narrative suggests that early debt recovery has become the preferred choice for most creditors, leading to an imbalance between supply and demand. This prospect has directly affected market expectations, leading to a sell-off. The crisis may worsen if smashing becomes the majority's choice, and it may take longer for BTC to adjust its price without a massive liquidity bailout.
