Bitcoin Falls Below $61,000 Amid Market Turbulence (June 24 Bitcoin Update)

Bitcoin continues its sharp decline as it drops below $61,000, influenced by Fed announcements and Mt. Gox revelations, triggering significant losses in futures positions.

Bitcoin’s downward trend in the cryptocurrency market persists, with the price plunging below $61,000 amid recent developments. Starting the new week, Bitcoin initially dropped to $62,250, causing tremors across the cryptocurrency market. Long positions in futures markets saw losses exceeding $260 million in the past 24 hours. Here’s the latest on Bitcoin.

The decline in Bitcoin began following the Federal Reserve’s interest rate decision announced on June 12, coupled with cautious remarks from Powell, which were negatively perceived by the market.

The announcement from Mt. Gox further deepened the decline. The cryptocurrency Bitcoin fell below $61,000 after Mt. Gox revealed its intention to distribute assets stolen in 2014 to their rightful owners.

Mt. Gox announced the commencement of payments totaling over 140,000 Bitcoins and an equal amount of BCH, exceeding a total cryptocurrency value of $10 billion. Following Mt. Gox’s announcement, Bitcoin briefly touched $60,500 within seconds.

Bitcoin last saw these figures on May 10.

Losses exceeded $280 million in the past 24 hours in liquidated futures positions, with $260 million coming from long positions.

Source: NTV / Prepared by Irem Yildiz

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