Bitcoin collapses to $58,000... plummets 5%

South Korean media NEWS1 reported that Bitcoin plummeted by more than 5%, collapsing from a peak of $58,000 (approximately 8.4 million yen).
At 9:20 a.m. on the 5th, the global coin market relay site CoinMarketCap announced
The coin is trading at $57,842, down 4.56% from 24 hours ago. However, Bitcoin fell 5% to $57,210 (approximately 8.3 million yen) around 3 a.m. on the same day.
It collapsed to the $58,000 range. This is the first time Bitcoin has collapsed below the $58,000 mark since July 13th.
The previous day, Bitcoin's value collapsed from $60,000 (about 8.7 million yen), and has been falling day by day.
First of all, this is thought to be due to the simultaneous decline in US capital markets, including the US stock market's sharp drop amid recent concerns about an economic recession.
Not only that, but the Genesis mass bomb also contributed to Bitcoin's decline.
According to CoinDesk, a cryptocurrency media company, 16,600 bitcoins (approximately $1.1 billion, or about 1.6 billion yen) were stolen from a wallet linked to the bankrupt Genesis Trading.
0 JPY) and 166,300 Ethereums (approximately $521 million, or approximately 76 billion JPY) were transferred to other accounts, likely for in-kind repayment to creditors.
The market was flooded with large amounts of crypto assets again. This was due to the US government releasing about 28,000 Bitcoins that it had seized, and the Mt.
This was another sell-off bomb following the return of 33,960 Bitcoins to debtors by Ethereum, which is the second largest cryptocurrency by market capitalization. As Bitcoin plummeted, other coins also saw their prices plummet, with Ethereum falling 8%.
Almost all of the stock prices have fallen.