Bitcoin is continuing to slide in price falling below $57,000 for the first time since 30 April 2024. Bitcoin fell to a price of $56,709 on the morning of the 4th of July.
The bitcoin shakeout is contributed to the German Government selling their bitcoin, transferring 3,000 BTC to central exchanges, worth over $172 million.
Bitcoin price could continue to fall to even lower levels when Mt.Gox distributes their bitcoin, expected to occur in July 2024.