The Mt. Gox saga in the world of Bitcoin is unfolding rapidly. Recent reports have revealed that thousands of BTC have been transferred to an unknown wallet, with the total amount exceeding $2.9 billion. This suggests that BTCs that had remained dormant for the past five years are now on the move.
The movement of Bitcoin from Mt. Gox has caught the attention of the market. Just a few minutes ago, news broke that 12,400 Bitcoins were transferred by Mt. Gox. The number of BTCs sent to an unknown cold wallet has changed. Stay updated with the latest financial and business news on COINTURK FINANCE.
Following this incident, the transfers have continued, resulting in an accumulation of BTCs worth approximately $2.9 billion at the new address. It is worth noting that the purpose of these transfers remains unknown, and they occurred within the past two hours.
A closer look at the wallet history reveals that it became active about a week ago. Prior to the Mt. Gox transactions, approximately 22,000 BTCs were sent to this address. In the last two hours alone, over 31,000 BTCs have been transferred to the address.
Furthermore, it is known that Mt. Gox plans to distribute its assets of 142,000 BTC and 143,000 BCH to creditors before October 31, 2024. This development has raised concerns about the Bitcoin price and led to a significant decline.
As a result of this news, the Bitcoin price experienced a sudden drop from $69,400 to $68,400. After the second transfer news, it plummeted even further. At the time of writing, the BTC price stands at $67,500 but has managed to recover slightly above $68,000.
The market volume also decreased following the decline, reaching $1.33 billion. However, the 24-hour trading volume indicates a strong interest in Bitcoin, as it surged by over 60% to surpass $28 billion.
This situation has evoked mixed emotions among market participants. The substantial volume generated by short sellers in response to the transfer news continues to be a topic of discussion.
For the latest news and updates, you can follow us on Telegram, Facebook, Twitter, and Coinmarketcap.
Disclaimer: The information provided in this article is not intended as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.
