Bitcoin Rebounds 5% as Mt. Gox Fears Subside

Bitcoin has rebounded by 5%, rising from $59,495 to $61,485, as analysts argue that fears over Mt. Gox repayments were overblown. The cryptocurrency’s recovery was supported by net inflows in U.S. spot Bitcoin ETFs and significant derivatives liquidations. Experts suggest that many Mt. Gox creditors are likely to hold onto their Bitcoin rather than sell immediately, reducing potential market pressure.Read more on Decrypt