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Mt. Gox events continue at full speed in Bitcoin. Recently, the process continued after news emerged about thousands of BTC being moved to an unknown wallet, and the amount of BTC moved exceeded $2.9 billion, indicating that BTCs that had not moved in the last 5 years were now on the move.
Bitcoin Movement from Mt. Gox
Just minutes ago, news hit the market like a bomb that 12,400 Bitcoins were moved by Mt. Gox. The number of BTCs sent by Mt. Gox to an unknown cold wallet has changed.
After the incident, it was seen that the transfers continued, and BTCs worth approximately $2.9 billion were accumulated at this address. It is also worth noting that these tokens, whose purpose of transfer is currently unknown, were moved to the address within the last 2 hours.
Looking at the wallet history, it was seen that it became active about a week ago, and before the Mt. Gox transactions, approximately 22,000 BTCs were sent to this address. In the last 2 hours, a total of over 31,000 BTCs have been sent to the address.
Additionally, it is known that Mt. Gox will distribute its assets of 142,000 BTC and 143,000 BCH to creditors before October 31, 2024. This situation has raised a big question mark over the Bitcoin price and triggered a sharp decline.
What is the Bitcoin Price?
Following the news, the Bitcoin price suddenly dropped from $69,400 to $68,400, and after the second transfer news, it experienced another sharp decline. Currently, the BTC price has fallen to $67,500 but appears to have returned above $68,000 at the time of writing.
After the decline, the market volume also fell, dropping to $1.33 billion. The 24-hour trading volume reveals the intense interest in Bitcoin. The trading volume exceeded $28 billion after a rise of over 60%.
This situation seems to harbor mixed emotions. Following the transfer news, the large volume created by short sellers continues to be discussed among market participants.
