Bitcoin ($BTC) prices slid to $65,500, down nearly 4% in the past 24 hours, as Kraken began distributing assets to creditors of the bankrupt Mt. Gox exchange. The incident triggered concerns about potential selling pressure, especially as nearly $9 billion in Bitcoin and Bitcoin Cash (BCH) were about to be released to creditors, making investors uneasy about future market performance. Meanwhile, other cryptocurrencies such as Bitcoin Cash and major altcoins have also seen significant price declines.
key point
- Kraken began distributing assets to Mt. Gox’s creditors, leading to increased selling pressure in the market.
- Bitcoin price fell to $65,500, down nearly 4% in the past 24 hours.
- Mt. Gox’s asset distribution involves nearly $9 billion in Bitcoin and Bitcoin Cash.
- The incident caused the price of Bitcoin Cash to plummet by more than 7%.
- Other major cryptocurrencies such as Solana, Ripple’s XRP and Cardano’s ADA prices fell 4%-5%.
- Ethereum has been relatively stable amid the overall market decline, with the price remaining below $3,500.
- Investors are wary of possible asset sales by creditors, worried that the release of new assets will affect price trends.
