Bitcoin falls under $60K as liquidations surge 📉

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Bitcoin’s recent downswing got much worse Monday following word from collapsed BTC exchange Mt. Gox that creditors will finally begin receiving repayments after 10 years. That’s good news, right? Sure, but the markets quickly reflected fears that billions of dollars’ worth of Bitcoin would be dumped soon, triggering a selloff that’s impacted most major coins.

By early afternoon, Bitcoin had dipped under the $60,000 mark for the first time since early May, falling more than 6% in the process, and it’s back there again as of this writing. Liquidations are piling up too, with about $340 million worth of positions zapped over the past day across all crypto assets.

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