After a depreciation in the Bitcoin price leading to a 3% decline in the last 24 hours, the renowned cryptocurrency analyst, il Capo, conducted a thorough assessment of the BTC price movement. In a recent post on X platform, il Capo highlighted the crucial support level of $67,000. The analyst identified a significant demand accumulation at this level, projecting a continuation of the bullish trend in the prevailing scenario. However, il Capo noted that if the support at $67,000 weakens, the next support level to watch is $65,000.

In a recent statement, il Capo addressed a key current topic, Mt. Gox, and discussed the BTC transfers from the exchange. Notably, the exchange officials are reportedly transferring Bitcoins in preparation for reimbursing their customers. The analyst mentioned that despite some progress on payment approvals, the full payments are not expected until October 2024. Consequently, il Capo reassures that there is no immediate cause for concern.

Years ago, Mt. Gox suffered a notorious hack resulting in the theft of thousands of Bitcoins from users. This incident significantly impacted BTC, raising doubts about its future. However, il Capo's analysis suggests that the current situation does not warrant apprehension at this point.

Disclaimer: This content does not constitute investment advice.