The incoming selling pressure from the Mt. Gox repayment could still cause the Bitcoin price to fall below the psychological $60,000 mark.
Bitcoin experienced the liquidation of over $122 million in leveraged long positions as its price dropped below the $61,000 mark, raising the risk of potentially falling below the critical $60,000 threshold.
Over $122 million worth of cumulative leveraged long Bitcoin (BTC) positions have been liquidated in the 24 hours leading up to 1:25 pm UTC, according to CoinGlass data.
The liquidations were triggered by an over 5% intraday drop in Bitcoin’s price, which briefly fell below the $61,000 mark at 1:25 pm UTC, June 24. The world’s first cryptocurrency is down over 7% on the weekly chart, according to CoinMarketCap data.
