Bitcoin Surges to $63,000, Welcomes July in the Green

Bitcoin has surged to over $63,000 on the first day of July, a month historically known for impressive price gains.

Bitcoin welcomes July with a surge, climbing back above the $63,000 mark. As the month unfolds, the cryptocurrency community eagerly watches Bitcoin. This period promises significant changes, though not necessarily the kind everyone is hoping for.
One of the most impactful events looming over Bitcoin’s near future is the imminent repayment from Mt. Gox. Once the largest Bitcoin exchange, Mt. Gox collapsed in 2014 following a massive hack. Now, a decade later, creditors are finally set to receive their long-awaited repayment of 140,000 BTC, valued at approximately $9 billion.
The Mt. Gox repayment plan casts a shadow over the market like a dark cloud. Starting in early July 2024, creditors will begin receiving their BTC. This distribution raises significant concerns about selling pressure.