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<ul class="news-points">
 <li>Bitcoin crashed, failing to retain prices above $67,000, and is trading at $64,000.</li>
 <li>Bitstamp said that it would begin Mt. Gox repayments on July 25.&nbsp;</li>
 <li>Ethereum ETFs saw outflows worth $150 million as ETH fell by more than 7%.</li>
</ul>
The crypto market experienced a sharp downturn over the last 24 hours after Bitcoin (BTC), the world’s largest digital asset, briefly surged to $67,000 but failed to maintain momentum, falling nearly 2%.
As of this writing, Bitcoin is trading at $64,314, according to CoinMarketCap <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>, but remains up over 6% in the past 30 days. Since July 2023, BTC has surged an impressive 120.79%, outperforming numerous other digital assets.
A major reason for Bitcoin crashing is the ongoing repayments from the defunct crypto exchange Mt. Gox. Approximately 22 hours ago, Arkham Intelligence <a href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox" target="_blank" rel="noopener noreferrer nofollow">data</a> revealed that a Mt. Gox wallet transferred 37,477 BTC (valued at nearly $2.4 billion) to an unknown wallet. Notably, the exchange’s trustees have recently executed several transfers to Bitstamp, a partner assisting with the repayment process.
Bitstamp confirmed on X (formerly Twitter) that <a href="https://x.com/Bitstamp/status/1816133303549800768" target="_blank" rel="noopener noreferrer nofollow">it has received</a> BTC from Mt. Gox, and is “working diligently to di…
The post <a href="https://coinedition.com/crypto-market-update-bitcoin-ethereum-tumble-as-mt-gox-and-etf-news-drive-volatility/" rel="noopener noreferrer nofollow">Crypto Market Update: Bitcoin, Ethereum Tumble as Mt. Gox and ETF News Drive Volatility</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Market Update: Bitcoin, Ethereum Tumble as Mt. Gox and ETF News Drive Volatility

Coin Edition

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