Bitcoin (BTC) is on the brink of ending June with a monthly loss, barely holding onto the crucial $60,000 support level. Bearish indicators suggest increased selling pressure in July. One major event causing concern is the long-awaited Mt. Gox repayments. The former largest Bitcoin exchange is set to repay 140,000 BTC, worth around $9 billion, to its creditors in early July 2024. This could lead to a significant drop in Bitcoin prices as creditors potentially sell their received assets to realize profits. On-chain indicators also suggest that many Bitcoin investors may lock in profits at current price levels, anticipating a market peak. The 4-hour Bitcoin chart shows a possible breakdown of a bull pennant, with the deepest price target for July at around $56,000.