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Bitcoin nears $62,000 amid Mt. Gox customer repayments

Bitcoin nears $62,000 amid Mt. Gox customer repayments
Bitcoin (BTC-USD) hovers below $62,000 Wednesday morning as the cryptocurrency has run up by nearly 40% in 2024 year-to-date. Yahoo Finance Senior Markets Reporter Jared Blikre explains how circumstances that may allow the crypto asset to run higher as 140,000 bitcoin will be released by the defunct Japanese bitcoin exchange Mt. Gox in July. Blikre also takes a look at the price action of other cryptocurrencies like solana (SOL-USD), cardano (ADA-USD), and ethereum (ETH-USD). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

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Bitcoin is approaching the $62,000 mark as the cryptocurrency has surged by almost 40% so far in 2024. This increase is attributed to the upcoming release of 140,000 bitcoins by the defunct Japanese bitcoin exchange Mt. Gox in July. Other cryptocurrencies like solana, cardano, and ethereum are also being monitored for their price action. There are concerns about a potential bearish impact on cryptocurrencies due to the strengthening of the US Dollar Index. Overall, the market for cryptocurrencies is showing signs of volatility and potential risk factors that investors should be aware of.

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