Tags: Mt. Gox

Mt Gox’s latest move could be an internal reshuffling of assets or part of repayment efforts that could trigger significant selling activity.

The latest Mt. Gox transfer had a minimal effect on BTC, which was hovering above $91,400 at the time of writing.

Bitcoin has remained unfazed even as Mt. Gox moved billions in BTC to an unknown address.

The activity follows delays in creditor repayments, which have now been rescheduled to 2025 due to system issues.

Bitcoin prices have sunk again as the defunct Mt. Gox exchange begins moving assets, potentially sparking another sell-off.

The fifth and final exchange supporting the Mt. Gox bankruptcy is moving its coins connected to the defunct trading platform

Mt. Gox have already transferred billion dollars worth bitcoin to Bitstamp, Kraken, and other exchanges tasked with returning customer funds affected by the 2014 collapse.

The Mt. Gox trustee has transferred thousands of bitcoins to crypto exchanges Kraken and Bitstamp in the last two weeks.

There has been a significant increase in Bitcoin withdrawals from Kraken, suggesting Mt. Gox creditors are opting to hodl.

The Mt. Gox wallet address holds about 90,344 BTC worth roughly $5.99 billion at market prices.

The impact of Mt. Gox customers selling newly acquired BTC is likely to be limited, according to the founder of CryptoQuant.

Arkham Intelligence revealed that an address associated with Kraken received $3.1 billion worth of crypto from Mt. Gox’s wallets on Tuesday morning.

The defunct Mt. Gox Bitcoin exchange has started moving the assets in preparation for reimbursements to customers and markets are already reacting.  

Bitcoin is expected to witness a Q3 lull due to uncertainty over Mt. Gox repayment impact.

The commencement of Mt Gox distributions comes as BTC struggles to remain above $54,000 after plunging roughly 5% in the past 24 hours.