Bitcoin has taken a hit, dropping below $60,000 for the first time since May, following news that Mt. Gox creditors will start receiving repayments in Bitcoin and Bitcoin Cash next week. The market fears that creditors will sell off their coins, potentially negating recent inflows from U.S. Bitcoin ETFs. Over $1.2 billion has flowed out of U.S. Bitcoin ETFs in response to investor pessimism about potential interest rate cuts. Liquidations of over $335 million in crypto positions in the past 24 hours, with Bitcoin accounting for the largest share. Subscribe to Alpha Reports for exclusive insights on airdrops, NFTs, and more to up your game. Go to Alpha Reports for in-depth analysis.