# $170 Billion Selloff in Cryptocurrencies Friday as Mt. Gox Payout Looms

**URL:** <https://onehack.st/t/170-billion-selloff-in-cryptocurrencies-friday-as-mt-gox-payout-looms/286224>\
**Category:** News & Articles\
**Tags:** trading\
**Created:** [July 7, 2024, 5:00pm UTC](https://onehack.st/t/170-billion-selloff-in-cryptocurrencies-friday-as-mt-gox-payout-looms/286224 "2024-07-07T17:00:47Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![Nina](https://onehack.st/user_avatar/onehack.st/nina/32/86958_2.png) [@Nina](https://onehack.st/u/Nina)\
**Post date:** [July 7, 2024, 5:00pm UTC](https://onehack.st/t/170-billion-selloff-in-cryptocurrencies-friday-as-mt-gox-payout-looms/286224/1 "2024-07-07T17:00:48Z")

</div>

**Summary:**

1. The cryptocurrency market lost over $170 billion in a day due to the impending $9 billion Mt. Gox payout.
2. This led to significant liquidations, including $540 million in long trades, and the German government selling 3,000 seized bitcoins.
3. Despite the market slump, experts still predict potential growth, with bitcoin possibly reaching $150,000.

[Read more on CNBC](https://cnbc.com)