Bitcoin Nears $60K Amid Mt. Gox Payout Concerns

Bitcoin Threatens $60K Amid Mt. Gox News, but Sales May Be Less Than Feared

Bitcoin (BTC) has seen a sharp drop in prices Monday following news from the trustee of the now-defunct Mt. Gox crypto exchange. The trustee announced plans to return over 140,000 BTC to clients in July, whose assets were stolen during a 2014 hack. As of now, Bitcoin is trading at $60,700, having dropped more than 5% in the last 24 hours, marking its weakest point since early May. Ether (ETH) also recorded similar declines, as did the broader CoinDesk 20 Index.