Bitcoin (BTC) fell to $54,000 earlier on Friday (5th), with a drop of over 8% in the past 24 hours, hitting a new low since the end of February. The trading price at press time was $54,378. Ethereum (ETH) also dropped below the $3,000 mark, briefly touching nearly $2,800, with a trading price of around $2,887 at press time.
Source: TradingView
According to data from the cryptocurrency derivatives analysis platform Coinglass, a total of 234,000 people were liquidated in the past 24 hours, with approximately $678 million in leveraged positions being liquidated, of which long positions accounted for a large portion at approximately $588 million.
Source: Coinglass
As the market declines, some bearish events are drawing market attention. According to data from the on-chain intelligence platform Arkham, the wallets of the bankrupt Bitcoin exchange Mt.Gox have seen several transfers since yesterday, including a large transfer of 47,228 bitcoins (worth about $2.5 billion) from a cold wallet to a new wallet, which may indicate that the trustee of the platform’s rehabilitation is preparing to repay creditors. Data shows that Mt.Gox’s wallets still hold about 141,000 bitcoins (worth $7.64 billion).
Cryptocurrency wallets marked as belonging to the German government and the US government have also seen multiple transfers in recent days, leading some market participants to believe that this may indicate that relevant government agencies are selling off their confiscated bitcoins.
