Coinspeaker
Mt. Gox Moves $700M BTC, Bitcoin Slips Below $60K
Once-leading Bitcoin exchange Mt. Gox recently started another wave of BTC transfers. It has reportedly sent 12,000 Bitcoin, worth over $709 million, to an unknown wallet, according to blockchain analytics firm PeckShield. This movement has potentially caused the latest drop in Bitcoin’s price, falling below the $60,000 mark.
As per the X post by PeckShieldAlert, Mt. Gox moved the 12,000 BTC to a wallet address labeled “1PuQB…nWhTb” late Tuesday night. Additionally, a separate transfer of 1,264.69 BTC, worth $74.77 million, was sent to another Mt. Gox-associated cold wallet address. These transactions have yet to be further distributed to other wallets, sparking speculation among market observers.
The timing of these transfers is particularly noteworthy, as they follow a pattern observed in recent weeks, where movements of Bitcoin from Mt. Gox have often preceded creditor repayments and major movements i
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