Bitcoin Falls Over 3%, Crypto Market Plummets After Mt. Gox Announces July Repayment Start
In a significant downturn, Bitcoin experienced a drop of over 3%, sending shockwaves through the cryptocurrency market. The decline comes in the wake of a pivotal announcement from Mt. Gox, the infamous cryptocurrency exchange. According to the announcement, Mt. Gox will begin repaying its creditors starting in July. This long-awaited move has triggered sell-offs as market participants anticipate a substantial increase in Bitcoin supply. The broader crypto market has also felt the pressure, as other major digital assets followed suit, resulting in a sharp decrease in overall market capitalization. Investors are now closely watching the developments to gauge the long-term impact of Mt. Gox’s repayment strategy on the crypto ecosystem.
Coin: #BTC
