Mt. Gox repayments cause $665M in crypto liquidations, Web3 users hit ATH

07/05/24 • 7 min

The crypto market knew the day was coming when the Mt. Gox repayments would start, but it appears it was not priced in as Bitcoin plunged in price overnight, with the rest of the crypto market following suit. Some analysts predict the slide has a way to go yet, and long positions are getting liquidated en masse. The Crypto Fear and Greed Index has moved into deep “fear” territory, yet some of the most popular traders are seemingly unfazed. In fact, it’s not just the traders who are staying cool; Justin Sun has offered to buy all of the $2.3 billion of BTC the German government is offloading.
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