First Mover Americas: Bitcoin Slumps Below $54K as Mt. Gox Flags Repayments The latest price moves in bitcoin (BTC) and crypto markets in context for July 5, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

As Bitcoin Bellyflops to $54K Only Five Mining Rigs Remain Profitable, Says F2Pool Miners need to continually sell bitcoin rewards to keep operations afloat, and they are stressed during a market downturn.

Bitcoin Dips Below $54K as Mt. Gox Moves $2.6B in BTC BTC slides to lowest since late February, breaching key price support.