🎆On July 4th, Bitcoin had a mini-firework of its own, briefly dipping to $57,874 on Coinbase, its first below $58K in over 2 months. But don't worry, it's back to $58,964, just a little 3.4% down for the week. 📉

This rollercoaster ride? Blame it on the liquidation of leveraged long positions. CoinGlass reports over $54.9M in Bitcoin longs liquidated in the past 24 hours. Ether traders weren't spared either, with $57.9M in Ether longs liquidated. 😱

The ghost of Mt. Gox is also haunting the scene, with repayments of approx $8.5B worth of BTC to creditors starting in July. But some analysts say "nah, it won't impact Bitcoin that much". 🤷‍♂️

Other cryptos also took a hit during Bitcoin's dip. Ether dropped 4.5%, BNB fell 6%, and Solana saw a 10.3% decline. But hey, "buy the dip" is now the trending mantra on social media. 🚀

The crypto market's volatility is on full display, with leveraged positions causing significant price fluctuations. Keep an eye on the Mt. Gox repayments and the launch of Ether ETFs.

Got thoughts on this? Drop 'em in the comments. Let's chat! #DeFi #Web3 #CryptoNews