Key facts
- Bitcoin price fell below $60,000.
- Mt. Gox transferred 116.3 BTC to Bitstamp for creditor repayments.
- Bitcoin ETFs have experienced continuous outflows.
- The crypto market saw $1.57 billion in leveraged liquidations.
- Total crypto market value decreased by approximately $200 billion.
Bitcoin's price declined below $60,000 amid a broader crypto market sell-off that erased approximately $200 billion in total market value and triggered $1.57 billion in leveraged liquidations. The defunct exchange Mt. Gox transferred 116.3 BTC, valued at $8.16 million, to Bitstamp as part of its creditor repayment process, which has a deadline of October 31, 2026. This follows an earlier transfer of 10,422.65 BTC ($739 million). The ongoing Mt. Gox distributions and persistent outflows from Bitcoin ETFs are cited as contributing factors to the price drop. Separately, large withdrawals of HYPE tokens from Kraken and Coinbase were noted, suggesting accumulation despite market conditions.