{"id":32968,"date":"2024-06-24T20:32:39","date_gmt":"2024-06-24T20:32:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-drops-below-60k-amid-fresh-sell-off-pressure\/"},"modified":"2024-06-24T20:32:39","modified_gmt":"2024-06-24T20:32:39","slug":"bitcoin-drops-below-60k-amid-fresh-sell-off-pressure","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-drops-below-60k-amid-fresh-sell-off-pressure\/","title":{"rendered":"Bitcoin drops below $60k amid fresh sell-off pressure"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/bears-wild-signal-crypto-price-declines-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/bears-wild-signal-crypto-price-declines-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/bears-wild-signal-crypto-price-declines-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/bears-wild-signal-crypto-price-declines-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Bitcoin (BTC) price fell more than 5% to drop below the $60,000 threshold.<\/span><\/li>\n<li><span style=\"font-weight: 400\">The declines came after news that Mt.Gox will start repaying its creditors in July, with potential $9 billion sell-off pressure incoming.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Bitcoin price has dropped below the $60,000 threshold after a day of massive sell-off pressure.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC reached highs of $71,974 on June 7, but has been in downtrend since. Today\u2019s declines have seen the cryptocurrency break below $60k for the first time since rebounding above this level in early May.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin price drops below $60k<\/span><\/h2>\n<p><span style=\"font-weight: 400\">On Monday, news that Mt. Gox, a bankrupt crypto exchange that suffered a major hack in 2014, was on the verge of distributing nearly $9 billion in BTC to creditors sparked new selling pressure for Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When hackers stole thousands of Bitcoin from Mt.Gox ten years ago, the price of Bitcoin was around $40. That puts today\u2019s price at an astronomical level since, a factor that could see some recipients of the 141,000 BTC to be repaid elect to sell for profit.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC holders worried about the potential bearish flip, have joined the selling spree. <\/span><span style=\"font-weight: 400\">BTC\u2019s value plummeted below the $60,000 mark amid these news.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Commenting on BTC price before the dip to under $60k, CryptoQuant\u2019s head of research Julio Moreno <\/span><a href=\"https:\/\/x.com\/jjcmoreno\/status\/1805274163004817424\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">observed<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWhat\u2019s happening right now with Bitcoin prices is mostly related to a lack of demand growth or momentum from traders, whales, ETFs, etc.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The last time Bitcoin dropped below $60k, it traded to lows of $56,500 and Moreno <\/span><a href=\"https:\/\/x.com\/jjcmoreno\/status\/1805289010429870241\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">believes<\/span><\/a><span style=\"font-weight: 400\"> this could offer the ultimate support level again.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-drops-below-60k-amid-fresh-sell-off-pressure\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin (BTC) price fell more than 5% to drop below the $60,000 threshold. The declines came after news that Mt.Gox will start repaying its creditors in July, with potential $9 billion sell-off pressure incoming. Bitcoin price has dropped below the $60,000 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":32969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32968"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32968"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32968\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32969"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}