There could be seasonal, political and other reasons why Bitcoin has dipped below $65,000, but Mt. Gox Bitcoin sales aren’t one of them, say analysts.
Bitcoin’s tumble below the $65,000 mark for the first time in six days is “likely” due to a decline in market sentiment and seasonal trends rather than Mt. Gox creditors selling Bitcoin.
“The instant dump you worried about didn’t occur. Any price drop would be likely due to market sentiment, not Mt. Gox selling,” CryptoQuant founder Ki Young Ju wrote in a July 24 X post.
“After the Mt. Gox creditors’ repayment, all global time zones have passed,” Ju added.
