Cryptocurrency Market Update 📉
Bitcoin’s price dropped below $66,000 after Mt. Gox trustee transferred $2.8 billion worth of BTC to new wallets.
The current price of Bitcoin is $66,408.24, recovering from a low of $65,479.96 earlier today. However, BTC is still 1% lower than yesterday.
Traders shifted a volume of $28 billion in BTC in the past 24 hours.
Market Overview 📊
- The global crypto market cap dipped 1% to $2.53 trillion.
- In March, during Bitcoin’s all-time high, the market cap almost hit $3 trillion.
Mt. Gox Transfers 💼
- Mt. Gox moved 42.6 Bitcoin ($2.8 billion) to new wallets.
- $2.1 billion was transferred to a new wallet, and $105 million went to Bitstamp exchange.
- Bitstamp is distributing funds to Mt. Gox creditors.
Market Sentiment 📈
Analysts predict Bitcoin could retest its all-time high within the year.
Bitcoin’s current range between $60,000 and $70,000 is seen as a consolidation phase.
Investors are cautious due to uncertainties, awaiting key events like Trump’s Bitcoin 2024 speech.
Hot Take 🔥
Bitcoin’s price remains volatile amid market movements and Mt. Gox trustee transactions, with analysts eyeing potential catalysts for a new all-time high.
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