Analyst: BTC breaking through the $60,000 resistance line is of significant importance

cryptocurrency analyst Rachael Lucas stated that BTC breaking below the $60,000 resistance line is significant as it marks a psychological barrier for many investors. If Bitcoin remains below this level, we may see increased volatility in the short term. The recent large fluctuations in cryptocurrency are largely attributed to the upcoming repayments to creditors of the bankrupt cryptocurrency exchange Mt.Gox. Starting from July, it is expected that creditors will receive about 142,000 bitcoins worth approximately $9 billion. A large amount of repayments made in Bitcoin will bring "huge selling pressure" to the market because Bitcoin will absorb additional supply.