Bitcoin Price Drops Sharply as Miners and Mt. Gox Repayments Spur Market Volatility

Bitcoin’s price experienced a significant drop earlier this week, leading to over $300 million in cryptocurrency market liquidations within a single day. Gayatri Choudhury, a Quantitative Research Analyst at Bitwise, attributes the selloff to two primary factors, which are unrelated to Bitcoin ETFs. Choudhury highlighted the role of Bitcoin miners and the impending repayment from