Bitcoin recently dropped to its lowest level since late February after Mt. Gox transferred a significant amount of BTC to a new wallet, possibly in preparation for creditor repayments. The price of BTC fell to a low of $53,600 but has since rebounded to just above $55,000, marking a 4.75% decrease in the past 24 hours. The overall digital asset market, as indicated by the CoinDesk 20 Index (CD20), also experienced a decline of approximately 6.85%. The upcoming Mt. Gox repayments involve 140,000 BTC ($7.3 billion). There are concerns that creditors may immediately sell their coins upon receipt, leading to significant selling pressure in the market.
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