Mt. Gox Events Unfold Rapidly in the World of Bitcoin
Exciting developments in the world of Bitcoin continue to unfold as recent news reveals that thousands of BTC have been transferred to an unknown wallet, totaling over $2.9 billion. This indicates that BTCs that have remained dormant for the past five years are now on the move.
Bitcoin Movement from Mt. Gox
In a stunning turn of events, Mt. Gox recently made headlines by transferring a staggering 12,400 Bitcoins. These BTCs were sent to a cold wallet whose recipient remains a mystery. Stay up to date with the latest financial and business news by visiting COINTURK FINANCE.
Following this incident, the transfers continued, accumulating BTCs worth approximately $2.9 billion at the given address. It is worth noting that these tokens, whose purpose of transfer is currently unknown, were moved within the last two hours.
Examining the wallet’s history, it was discovered that it became active a week ago. Prior to the Mt. Gox transactions, about 22,000 BTCs were sent to this address. Within the last two hours, over 31,000 BTCs have been transferred to the same address.
Furthermore, it is known that Mt. Gox intends 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 triggered a significant decline.
The Bitcoin Price
In response to the news, the Bitcoin price experienced a sudden drop from $69,400 to $68,400. After the second transfer news, it plummeted further. At the time of writing, the BTC price has fallen to $67,500 but has managed to climb back above $68,000.
The market volume also took a hit, decreasing to $1.33 billion after the decline. However, the 24-hour trading volume demonstrates the continued high interest in Bitcoin, surpassing $28 billion with a rise of over 60%.
This situation has sparked a range of emotions within the market. The significant volume generated by short sellers following the transfer news continues to be a topic of discussion among market participants.
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Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
