Bitcoin's value has dipped to a seven-week low, with a 5.8% drop between June 23 and June 24. This slump forced the liquidation of $153 million in leveraged long BTC futures and ended a five-week bullish trend. Traders are now questioning if this is a sign of a longer bear market or a temporary panic. Concerns have been raised following the announcement of the imminent Bitcoin repayment by the failed exchange Mt. Gox bankruptcy estate. Additionally, a recent transfer of nearly 6,500 BTC from a wallet linked to the German government has sparked speculation of a potential selloff. Despite these uncertainties, some believe the $60,000 support could hold.