Here are the **front-page Bitcoin news highlights** as of today (**June 4, 2024**), focusing on major developments impacting the market:
### 1. ⚠️ **Mt. Gox Repayments Begin After 10 Years**
- **The Issue:** Defunct exchange Mt. Gox has started moving **$9.4B worth of Bitcoin (141,000 BTC)** to new wallets, signaling imminent repayments to creditors.
- **Market Fear:** Investors worry creditors may sell their long-frozen BTC, creating massive sell pressure. Bitcoin dipped to **$67,500** (down 4% in 24h) on the news.
### 2. 🇩🇪 **German Government Dumps Bitcoin**
- **Action:** Germany transferred **1,300 BTC (~$85M)** to exchanges (Kraken, Bitstamp, Coinbase) and market makers yesterday.
- **Context:** This is part of 50,000 BTC seized from piracy site Movie2k. Ongoing sales could suppress prices short-term.
### 3. 🏦 **MicroStrategy Doubles Down**
- **Bullish Move:** Michael Saylor’s firm purchased **an additional 11,931 BTC ($786M)** in May, raising its total holdings to **226,331 BTC ($14.9B)**.
- **Signal:** Institutional accumulation continues despite market volatility.
### 4. 💸 **U.S. Spot Bitcoin ETFs See Inflows Rebound**
- **Trend:** After weeks of outflows, U.S. ETFs recorded **$886M in net inflows** since June began (led by Fidelity’s FBTC).
- **Big Picture:** Net inflows since January launch exceed **$15.8B**, countering Mt. Gox/Germany fears.
### 5. 📉 **Price Volatility Amid Macro Pressures**
- **Current Range:** Bitcoin trades between **$60,000–$62,000**, down 15% from March highs.
- **Drivers:** Mt. Gox/Germany sales, stronger USD, and reduced Fed rate-cut expectations.
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**Why This Matters:**
- **Mt. Gox** and **Germany** are near-term bearish catalysts.
- **ETF inflows** and **MicroStrategy** reflect strong institutional conviction.
- Market sentiment hinges on whether creditors hold or sell distributed BTC.
Stay tuned for updates – high volatility is likely this month! 🚨
