From Barchart: 2024-07-08 01:46:20

Bitcoin price dropped due to concerns over Mt Gox distributions, hitting $55,000 but finding support. Major Bitcoin holders began moving wallets for potential sales.
Mt Gox trustees started distributing tokens to hack victims, with wallets holding $9 billion in Bitcoin. Fear of mass sales led to Bitcoin dumping.
Altcoins followed Bitcoin’s decline, with Ethereum dropping below $3,000 for the first time since May. Selling pressure extended to other tokens.
Market optimism on interest rate cuts overshadowed crypto weakness. The Federal Reserve’s meeting and U.S. inflation data will provide further insights.

Read more at Investing.com: down to $55k as Mt Gox jitters rattle crypto By Investing.com