Bitcoin, Ethereum, Dogecoin Struggle As Mt Gox Repayments Begin: Crypto Analyst Says BTC 'Could Drop To $47,000 From Here'
Global cryptocurrency markets are trading lower as Mt Gox repayments, Germany's Bitcoin transfer, and a surge in short liquidations impact prices. Bitcoin is down 3% at $56,499, Ethereum dips 4.9% to $2,984.6, Dogecoin struggles at $0.1041, and Shiba Inu drops by 3.9%. Notable data shows Bitcoin's strength in key metrics, high levels of short liquidations, and a re-activation of a dormant Bitcoin address after 11.1 years. Mt. Gox has also started repaying creditors after a decade-long wait. - source