Overview
- Bitcoin's price dropped to its lowest since February, falling below $54,000 before a modest recovery.
- Mt. Gox began distributing 140,000 BTC to creditors, raising concerns about potential mass sell-offs.
- The US and German governments transferred large amounts of seized Bitcoin to exchanges, adding to market pressures.
- Despite the downturn, US-based Bitcoin ETFs saw $143.1 million in net inflows as investors bought the dip.
- Analysts remain divided on whether Bitcoin will see further declines or rebound in the coming weeks.