Bitcoin eyes Mt. Gox recovery amid warning over BTC price dip to $58K

July 16, 2024 Coin Telegraph

Bitcoin

BTC’s price attempts to stabilize as traders warn of a possible return below Bitcoin buy support at $60,000.

Bitcoin sought to retest range highs at the July 16 Wall Street open as the market brushed off Mt. Gox Bitcoin movements.

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin (BTC) price strength returning for a fresh trip to $64,000.

Still down overall around 1% since the daily open, BTC/USD nonetheless showed resilience in the face of billions of dollars worth of coins leaving the cold wallet linked to defunct exchange Mt. Gox.

Mt. Gox transfers 44,000 Bitcoin, Bitcoin's price drops below ,000

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Mt Gox Estate Transfers $3B in Bitcoin, $53M in Bitcoin Cash Ahead of Distribution

July 16, 2024 Bitcoin.com

Mt Gox Estate Transfers B in Bitcoin, M in Bitcoin Cash Ahead of Distribution

BCH

According to onchain data, at 4:12 a.m. EDT on Tuesday, 48,641 bitcoin worth just over $3 billion were transferred by the Mt Gox estate ahead of the forthcoming distribution. Mt Gox Estate Moves Large Holdings Before Distribution After the price of bitcoin (BTC) climbed above $65,000, Mt Gox sent 48,641 BTC, valued at $3 billion, […]

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Mt. Gox transfers 44,000 Bitcoin, Bitcoin’s price drops below $64,000

July 16, 2024 The Crypto Briefing

Bitcoin

The minor Bitcoin move from Mt. Gox's wallet hints at potential market volatility as the repayment process progresses, affecting Bitcoin's stability.

The post Mt. Gox transfers 44,000 Bitcoin, Bitcoin’s price drops below $64,000 appeared first on Crypto Briefing.

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What’s next for Bitcoin price now that German gov’t BTC balance hits zero?

July 13, 2024 Coin Telegraph

Bitcoin Price

The German government got rid of all of its Bitcoin, but it could still be a bit early to expect a trend reversal in BTC price.

On July 12, the X social network was aflame with multiple on-chain data outlets and independent analysts announcing that the German government’s Bitcoin wallets now have a zero balance. A portion of this group is suggesting that Bitcoin (BTC) price will go on an upward tear now that this assumed sell-pressure has been removed from the market.

Despite the news, Bitcoin price remains constrained within a tight range where $60,000 serves as resistance and $54,000 as support.

Let’s take a look at some of the technical factors behind Bitcoin’s recent price action.

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Bitcoin Metric That’s Previously Preceded a Bullish Reversal Flashing Green, According to Analyst Jamie Coutts

July 12, 2024 The Daily Hodl

Alex Kruger

A closely followed crypto analyst says one Bitcoin (BTC) metric that previously predicted a bullish reversal is once again flashing green. Jamie Coutts, the chief crypto analyst at Real Vision, says that Bitcoin’s hashrate decline is slowing, a signal that has typically preceded momentum reversal for the crypto king. However, he notes that the prediction […]

The post Bitcoin Metric That’s Previously Preceded a Bullish Reversal Flashing Green, According to Analyst Jamie Coutts appeared first on The Daily Hodl.

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Coinbase Report: Crypto Market Shook by German BTC Sales; Recovery Expected by September Despite US Economic Slowdown

July 12, 2024 Bitcoin.com

Bitcoin

The third quarter of 2024 has been tumultuous for the crypto market, with significant selling pressures and regulatory uncertainties affecting bitcoin and other digital assets. Coinbase Institutional reports that indiscriminate selling by the German government and the Mt Gox Rehabilitation Trust repayments have contributed to market volatility. Coinbase Institutional Highlights Bitcoin Sales Impact on Crypto […]

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Bitcoin index falls to ‘extreme fear’ as BTC fails twice to breach $60K

July 12, 2024 Coin Telegraph

Bitcoin index falls to ‘extreme fear’ as BTC fails twice to breach K

Bitcoin Price

Bitcoin’s fear and greed index has tumbled to “extreme fear” for the first time since January 2023, as BTC struggles to reclaim a crucial price level.

The Crypto Fear and Greed Index — an indicator that tracks market sentiment toward Bitcoin and crypto — has fallen to “extreme fear,” its lowest level since January last year.

The tumbling index score came as the price of Bitcoin failed to break above the $60,000 mark for the second time in the last 48 hours.

In a July 11 post to X, crypto and forex trader Justin Bennett told his 111,000 followers that Bitcoin’s price level had rejected $60,000 “yet again,” noting the formation of a potential “rising wedge,” which suggests further downside in the coming days.

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JPMorgan Expects Crypto Market Recovery Beginning in August

July 11, 2024 Bitcoin.com

bitcoin.com

Global investment bank JPMorgan has predicted a crypto market recovery beginning in August. The firm revised its year-to-date crypto net flow estimate from $12 billion to $8 billion, citing bitcoin liquidations by Mt. Gox creditors and the German government’s seized asset sales as contributing factors. JPMorgan’s analysts believe this revised net flow will stabilize the […]

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Market Will Absorb Mt. Gox and German Government Sell Pressure, According to Economist Alex Krüger – Here’s Why

July 10, 2024 The Daily Hodl

Alex Kruger

Macro trader and economist Alex Krüger isn’t concerned about the Bitcoin (BTC) sell pressure from Mt. Gox and the German government. The German government was first spotted moving Bitcoin to exchanges last month after their authorities seized 50,000 BTC as part of an investigation into Movie2k.to, a now-defunct illegal streaming site that was accused of distributing […]

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What is Operation Choke Point 2.0? Trump vows to end it

Mt. Gox repayment shakes crypto market, causing volatility

July 10, 2024 Coin Telegraph

Bitcoin Price

Bitcoin faces immense volatility as Mt. Gox repayments flood the market.

In a long-awaited move, Mt. Gox, the infamous Bitcoin exchange that collapsed in 2014, has finally started repaying its creditors.

This resolution to one of crypto’s most notorious scandals is not just closing a chapter to one of Bitcoin’s darkest hours but is also actively shaping the asset’s market dynamics in real time.

On July 5, Nobuaki Kobayashi — the rehabilitation trustee for Mt. Gox — announced the commencement of debt repayments to creditors in Bitcoin (BTC) and Bitcoin Cash (BCH). The repayments are facilitated through a complex network of exchanges, with each entity playing a crucial role in distributing the funds.

Mt. Gox

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