Mt. Gox repayments cause $665M in crypto liquidations, Web3 users hit ATH

The crypto market knew the day was coming when the Mt. Gox repayments would start, but it appears it was not priced in as Bitcoin plunged in price overnight, with the rest of the crypto market following suit. Some analysts predict the slide has a way to go yet, and long positions are getting liquidated en masse. The Crypto Fear and Greed Index has moved into deep “fear” territory, yet some of the most popular traders are seemingly unfazed. In fact, it’s not just the traders who are staying cool; Justin Sun has offered to buy all of the $2.3 billion of BTC the German government is offloading.Further reading:Bitcoin drops below $54K as crypto liquidations near $665MMt. Gox moves $2.7B in Bitcoin to new wallet addressMt. Gox begins repayments in Bitcoin and Bitcoin CashWatch these Bitcoin price levels next as $52K supertrend risks failureJustin Sun offers to buy German gov’t’s $2.3B Bitcoin stack to minimize market impactWeb3 users reached an all-time high of 10M in Q2: DappRadarSo, grab yourself a coffee, and let’s get into it!Rise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph’s Twitter: @CointelegraphCointelegraph’s website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.