Yesterday, the crypto market had another black swan event. A Bitcoin incident related to Mentougou fermented, causing Bitcoin to fall directly to $58,378 at 4 a.m., the lowest point since the historical high of $73,787.1 on March 14, and the market panic further expanded.

The most fatal news in the crypto market yesterday was as follows: Data showed that as of June 24, 2024, the Mt.Gox trustee held about 141,686 BTC, accounting for 0.72% of the circulating supply of Bitcoin, with a value of about $9,260,336,411. Since the fund integration on May 30, 2024, these addresses have only transferred out 0.00001638 BTC.

The Mt.Gox trustee will start the BTC and BCH repayment work in early July. It was originally said to be in October, but now it has been advanced to July. This is undoubtedly a time bomb in the crypto market. Mt.Gox disclosed today that it plans to start BTC and BCH compensation in July.

According to Eric Balchunas, senior ETF analyst at Bloomberg, who wrote on the X platform, this amount of funds is equivalent to more than half of the inflow of Bitcoin ETFs being offset.

According to previous news, Mt.Gox currently holds 141,686 BTC, worth more than US$9.26 billion.

KP92877 has no threshold for retention. News is one of the most fatal factors affecting the trend of the market. At present, operations should still pay attention to changes in news and be cautious.