Crypto markets plunged today under severe selling pressure driven by panic over Mt. Gox’s imminent July 2025 repayment of ~$8B in Bitcoin and Bitcoin Cash, stoking fears of mass creditor liquidations. This merged with confirmed German government BTC transfers (~$175M) to exchanges and persistent macro headwinds—including reduced Fed rate cut expectations and a strong dollar—crushing sentiment. The collapse triggered a critical technical breakdown below Bitcoin’s $55K support, liquidating over $1.2B in leveraged longs within 24 hours and accelerating the capitulation, with spot ETH ETF delays further eroding institutional optimism.
(Sources: CoinGlass, Arkham, CME FedWatch; Verify real-time data for latest figures) $BTC
BTC
87,433.88
-1.46%
ETH
2,949.94
-2.19%
BNB
842.09
-1.98%