Bitcoin dipped below $63,000 as Mt. Gox selling pressure reared its head again. BTC had tested a return above $65,000 during Asian trading hours before slipping 3% as a wallet associated with Mt. Gox moved nearly $3 billion worth of bitcoin, likely as part of its creditor repayment plan. The defunct crypto exchange began repaying its debt on July 4, with traders concerned that recipients will immediately dump their coins, dragging BTC’s price down. Bitcoin fell to around $62,500 in the mid-European morning before recovering to over $63,500, 1.6% higher than 24 hours before. The broader crypto market as measured by the CryptoX 20 Index rose about 1.55%.
Bitcoin Retreats as Mt. Gox Moves $3B of BTC
