The article highlights the current state of the cryptocurrency market, indicating that bears are in control as Bitcoin drops below $61,000. This has resulted in approximately $100 million worth of BTC longs being wiped out in the past 24 hours. Derivatives traders across all cryptocurrencies have seen their wealth decrease by $260 million, with long liquidations reaching $110 million in the past 4 hours alone. Bitcoin and Bitcoin Cash will be disbursed to Mt. Gox creditors, but the process may take until Oct. 31, 2024. Additionally, German authorities have sold $325 million worth of seized BTC. Ethereum has also seen a 5% price drop, with ETH long liquidations reaching nearly $60 million in the past day. Despite this, coins like LEO and FTM are up in the top 100 by market capitalization. It is recommended to subscribe to Alpha Reports for exclusive reports and insights on airdrops, NFTs, and more. Visit Alpha Reports for more information.