👍👍There was a sharp drop in Bitcoin price 👍👍
Bitcoin was traded to the bankrupt crypto exchange Mt. on July 16. It lost more than 3% of its value due to the impact of fear, uncertainty and doubt (FUD) analysis regarding Gox. According to TradingView data, the Bitcoin price on centralized exchanges had reached $65,000, but remained under pressure due to this crisis. Crisis, Mt. It was triggered by the movement of Bitcoins belonging to Gox between wallets within the framework of the rehabilitation program.
According to blockchain data analysis platform Arkham, Mt. Approximately 92,000 Bitcoins released from Gox's cold wallet are worth $5.7 billion and constitute two-thirds of the exchange's total assets. Look Into Bitcoin, in his post on X, Mt. He stated that Gox moved 44,527 Bitcoins to an internal wallet and may be preparing for refunds. Mt. Similar events involving Gox also had a negative impact on the price when the exchange was hacked and shut down a decade ago; Investors were concerned about mass Bitcoin sales. However, some experts argue that these fears do not correspond to reality.
Popular crypto investor and YouTuber Quinten Francois stated that this situation could start the next FUD wave. Additionally, the depletion of Bitcoin stocks confiscated by the German government increases the selling pressure in the market, further fueling investors' concerns.
BTC/USD parity last hit $65,000 on June 21; This level is considered an important point of Bitcoin's short-term cost of ownership basis. Look Into Bitcoin set its short-term cost of ownership floor at $64,835 as of July 15.
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