3 things that can spoil a potentially bullish July for Bitcoin
BTC price is likely to face headwinds in July from Mt. Gox repayments that could result in a “bull pennant” breakdown on the charts. Go to Source
Mt Gox
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U.S. government sends 3,940 Bitcoin to Coinbase exchange
Data from Arkham Intelligence indicates the Bitcoin was seized from Banmeet Singh, a convicted drug dealer, during his January 2024 trial. Go to Source
Galaxy Digital’s Alex Thorn: Mt Gox Bitcoin Distributions Unlikely to Disrupt Market
After a decade-long wait, creditors of the defunct Mt Gox exchange are set to receive in-kind distributions of bitcoin and bitcoin cash starting in July. The head of research from Galaxy Digital predicts the market impact of these distributions will be less severe than anticipated. Long-Term Bitcoin Holders Likely to Retain Mt Gox Bitcoin Distributions … Read more
Bitcoin exchange balances ‘overrated?’ 140K BTC Mt. Gox payout sparks debate
One commentator argues that Bitcoin exchange balances are not a reliable yardstick for BTC price strength, while others dismiss the latest Mt. Gox fears. Go to Source
Bitcoin ETFs shed $1.3B over 2 weeks amid market slump
Bitcoin ETFs have seen outflows of $1.3 Bitcoin in the last two weeks of trading, but analysts expect markets to rally higher in the coming months. Go to Source
4-week correction for Bitcoin? Mt. Gox, Germany gov’t add sell-pressure
Bitcoin price risks a potential fall below $60,000, due to Mt. Gox repayments and Germany’s government selling its 50,000 BTC. Go to Source
Mt Gox to Start Distributing $9 Billion in Bitcoin to Creditors in July After Decade-Long Wait
On Monday, June 24, 2024, the Mt Gox bankruptcy trustee declared that reimbursements are slated to commence at the start of July. The trustee explained that disbursements will be made in bitcoin and bitcoin cash and sent to designated exchanges. After Ten Years, Mt Gox Trustee Announces July Start for Repayments Approximately $9 billion worth … Read more
Mt. Gox trustee to start Bitcoin, Bitcoin Cash repayments in July
After a decade of anticipation, July might finally bring restitution to the users of the now-defunct Mt. Gox exchange. Go to Source
Report: Speculation Returns as Bitcoin Market Shows Signs of Recovery
Glassnode’s latest onchain analysis reveals a resurgence in speculative activity in the bitcoin (BTC) market after months of stagnation. This shift marks a potential change in market sentiment, with both short and long-term holders displaying increased engagement. Mt Gox Preparations Spark New Wave of Bitcoin Speculation Analysts at Glassnode reported the reappearance of speculative behavior … Read more
South Korean Bitcoin Premium Rises to 2.23% Amid Market Volatility
This week, bitcoin’s price briefly exceeded $70,000 per coin before declining after the movement of Mt Gox bitcoins, yet the premium for bitcoin in South Korea has significantly increased. Having fallen below the 1% range, the premium on South Korean exchanges has now climbed to 2.23%. Bitcoin Premium in South Korea Grows Bitcoin (BTC) saw … Read more