A crucial week closes for bitcoin and we explain it to you in our news summary

The week ends with relevant news about the price of bitcoin, which experienced a sharp drop that generated interest in the market.

The value of the digital currency, which had been rising in previous weeks, first fell to USD 64,000, as a result of the wave of sales that was registered in the ETF trade. Days later the price dropped to USD 60,000, a quote that I haven’t seen since May.

Willy Woo explains the reasons that led to these declines and anticipates what will happen to the price of BTC in the coming weeks. This, taking into account the role bitcoin miners play in setting the price.

All eyes are on the possibilities of the market-pioneering cryptocurrency break the lateralization that has characterized it in recent months, although there is a risk that a correction will take the value of BTC below USD 56,000.

In that sense, what happens with the Mt. Gox case is crucial for the market. The rehabilitation trustee of the Japanese exchange that went bankrupt in 2014 is about to begin compensating users.

As reported in a statement, it is preparing to start paying its debtors with BTC and BCH. And although many fear the pressure that this fact could cause in the market, there are analysts who assure that The bitcoins released by Mt. Gox should not worry investors.

Meanwhile, Europeans are already beginning to experiment a series of restrictions on trading with stablecoinsas several exchanges operating in the region are implementing measures to comply with the Regulation for the Cryptoasset Market (MiCA), which comes into force on June 30.

In compliance with this legislation, Binance began to apply restrictions on its platform, in order to prevent access which he calls “unauthorized stablecoins”.

Bitstamp announced a similar measure, removing coins from its list, although it will continue to provide limited access to other stablecoins. The same action is applied by the people of the Spanish Bit2me, taking advantage of the granfathering rulea rule that will allow operations with unauthorized stablecoins for a temporary period.

Other exchanges like OKX and Uphold They have already removed USDT from their list, the stablecoin that dominates the market. There are still many companies who have not announced their measuresbecause they are evaluating the steps to follow, as explained to CriptoNoticias by the Bitnovo team. It remains to be seen how the market is reconfigured.

If you missed some of the most relevant news of the week, don’t worry, we’ve compiled them here for you with our multimedia information menu.

Below, we condense all the news events of the last week with Our compilation video.