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Bitcoin rebounds from Mt. Gox, Germany sell pressure

Bitcoin rebounds from Mt. Gox, Germany sell pressure

Bitcoin climbed back above $57,000 Tuesday morning after Monday saw $300 million in inflows to U.S. Bitcoin ETFs.

Stephen Graves
July 09, 2024

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📝 What you need to know

Bitcoin climbed back above $57,000 Tuesday morning, marking a significant recovery from the lows seen last week when its price slipped as low as $54,000. U.S. Bitcoin ETF inflows continued to show resilience despite market volatility, with $300 million in net inflows on Monday, marking their highest buying activity since early June as instituutions bought the dip.

With the estate of collapsed crypto exchange Mt. Gox set to begin its Bitcoin distribution “as soon as possible” according to Bitstamp, and the German government moving $900 million in BTC to exchanges, volatility is set to continue.

Bitcoin Continues Rebound as Spot ETFs See $295 Million in Deposits - Decrypt

Bitcoin has continued its rebound as U.S. spot ETFsaw s $295 million worth of inflows on the first trading day of the week.

Mt. Gox Bitcoin Distribution to Begin ‘As Soon As Possible’, Says Bitstamp

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From Our Partner

Bitcoin miner and AI infrastructure provider Bit Digital is preparing to bridge the gap between the worlds of traditional and decentralized finance with the “TradFi Meets DeFi Mixer,” at the EthCC conference in Brussels.

Not just a networking event, but a strategic platform to discuss and explore the future of finance, the event will feature a panel discussion on ‘Integrating TradFi and DeFi’ with Bit Digital CEO Sam Tabar, Everstake Head of Staking Alina Tielnova and Ozan Polat, Partner at Dialectic, moderated by MatterblockVC partner and Rug Radio creator Gianina “Gigi” Skarlett.

Book your attendance here.

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