Liquidations, Government Dumps, and Mt. Gox Transfers: How Much More?
- Mt. Gox transferred 1,544 BTC to an address belonging to crypto exchange Bitbank.
- Over $682.56 million was liquidated from the market in the past 24 hours.
- The German government sent 1,300 BTC to Coinbase, Bitstamp, and Kraken.
Bitcoin’s price is under pressure as a major options expiry coincides with large-scale Bitcoin movements from the defunct exchange Mt. Gox and the German government. This confluence of events has triggered a wave of bearish sentiment in the crypto market.
In the past few hours, BTC selling activity has surged, leading to a massive decline in the altcoin sector as well.
Mt. Gox began distributing Bitcoin to its creditors in the past 24 hours. As per Arkham Intelligence data, the exchange’s wallet showed significant movement, with 47,229 BTC (worth $2.5 billion at current prices) transferred to a wallet at 8:27 a.m. UTC+8 on Friday. The same wallet then transferred the cryptocurrencies to two addresses, reported PeckShield. One address received 44,500 BTC worth around $2.55 billion, while the other received 2,700 BTC worth close to $154.8 million.
As noted by a crypto analyst on X, Mt. Gox transferred 1,544 BTC to an address bel…
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