The cryptocurrency market is in turmoil as Bitcoin falls below the $55,000 support level! Mt. Gox repayment plan triggers chain reaction
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Tron founder Justin Sun wants to buy Bitcoin held in Germany on the OTC market to prevent market chaos.
Bitcoin’s fall below $58,000 sparked concerns of increased selling pressure due to Mt. Gox wallet activity and large transfers from the German government. But Robert Kiyosaki sees this as a buying opportunity as a bull run will emerge after the crash in late 2025.
Lombard aims to enhance Bitcoin's role in DeFi by introducing LBTC, allowing users to stake Bitcoin for yield while retaining liquidity, bridging traditional finance with blockchain innovation. Backed by a $16 million seed round led by Polychain Capital, Lombard plans to integrate LBTC across major DeFi platforms, promising to reshape the DeFi landscape with cross-chain compatibility.
According to Arkham data, the German government transferred as many as 2,800 Bitcoins on Monday (July 1) and Tuesday. According to the Bitcoin price at the time of writing (61,845USD), the total amount transferred The number exceeded US$170 million.
Tom Lee's prediction of Bitcoin reaching $150,000 by the end of the year depends on the resolution of the Mt. Gox allocation and the approval of a Bitcoin spot ETF. Despite recent market volatility, historical trends and positive investor sentiment suggest that significant price increases are possible.
Bitcoin faces potential sell-off pressure from Mt. Gox repayments but may see recovery with FTX cash repayments later in the year.
Deepfake technology is increasingly used in cryptocurrency scams, impersonating figures like Elon Musk and Lee Hsien Loong to deceive users, resulting in over $79 billion in losses since 2022. This poses a significant threat to financial security and public trust.
Cryptocurrency acceptance is growing among luxury retailers like Ginza Xiaoma, signaling a shift towards digital payments in high-end markets globally. Despite challenges, increased business adoption and regulatory developments suggest a promising future for crypto as a mainstream payment method.
The move mirrors that of Binance, the world's largest crypto exchange, in terms of leaving Canada.
This latest approval highlights Bybit's continued commitment to expanding its presence in emerging and dynamic markets.
The companies claim the program will give athletes and professionals a competitive advantage over their rivals.
Bybit and Swyftx are the latest victims of the spreading crypto contagion, with both firms announcing job cuts in the wake of FTX collapse.“
Bybit is the latest crypto exchange to slash a sizeable portion of its workforce.
Huobi and Bybit have publicly provided their proof of reserves to assure investors.
Ben Zhou, the founder of Bybit, said that the exchange is putting some focus on educating users who are new to crypto.
"Bybit responded to the OSC’s enforcement action, maintained an open dialogue, provided requested information, and committed to engaging in registration discussions," said the OSC.
The function enables users to speculate on future prices of cryptos and settle their trades using USDC.