Bitcoin (BTC) fell to around $54,000 on Friday (5th), marking a decline of over 8% in the past 24 hours and reaching a new low since late February. As of the deadline, the trading price was $54,378. Ethereum (ETH) dropped below the $3,000 threshold, briefly touching nearly $2,800, with the trading price around $2,887 at the time of writing.
Source:
TradingView
According to data from cryptocurrency derivatives analysis platform Coinglass, in the past 24 hours, a total of 234,000 traders were liquidated, amounting to approximately $678 million in leveraged positions being cleared, with long positions accounting for a significant portion, about $588 million.
Source:
Coinglass
Amid the market downturn, several bearish events are drawing market attention. According to data from on-chain intelligence platform Arkham, wallets from the bankrupt Bitcoin exchange Mt. Gox have started to show several transactions since yesterday, including a large transfer of 47,228 Bitcoins (worth approximately $2.5 billion) from a cold wallet to a new wallet, which may indicate that the platform’s restructuring trustee is preparing to repay creditors. Data shows that Mt. Gox wallets still hold about 141,000 Bitcoins (worth $7.64 billion). Cryptocurrency wallets marked as belonging to the German government and the U.S. government have also recently shown multiple transactions, leading some market observers to believe that these government agencies might be selling their seized Bitcoins.
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