The announcement of the Bitcoin and Bitcoin Cash repayment plan by the Mt. Gox exchange on June 24 had a significant impact on the recent decrease in Bitcoin’s price. Woo observed that this announcement affected the market’s excessive leverage ratio, with Bitcoin initially aiming for $62,500. The analyst also pointed out that the existence of speculative long positions resulted in additional liquidations, leading to a drop in price to $58,000. Stay updated on the latest technology news by accessing NEWSLINKER.
