Rapid Sell-off With Mt. Gox Release Plunges Bitcoins Under $60K

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Bitcoin’s price has fallen below the critical $60,000 mark, dropping 3% last night. This marks the third consecutive bearish day, contributing to a 6% decline this week. Currently, Bitcoin is testing the 200-day EMA and trades at $58,893.

In a notable development, a whale has deposited 1,800 BTC ($106 million) to Binance at a loss just 40 minutes ago. Since June 27, this whale has deposited a total of 5,281 BTC ($323.2 million) to Binance, incurring a loss of approximately $20 million. The substantial movements and losses underscore the volatility and uncertainty in the market.