LIVE**๐จ $5 Billion Transfer Creates Panic: Bitcoin in Decline! ๐จ**
Bitcoin (BTC) fell 2% after the defunct crypto exchange Mt. Gox moved 75,021 BTC worth approximately $5 billion to an unknown wallet. Here's what happened:
**Key Events:**
- **๐ฅ Panic Trigger:** 75,021 BTC ($5 billion) transferred from Mt. Gox wallets to an unknown wallet.
- **๐ BTC Decline:** Bitcoin dropped 2% following the transfer.
- **๐ต๏ธโโ๏ธ Onchain Analysis:** Whale Alert and Arkham Intelligence tracked the movements, noting 21 transfers mostly of 2,000 BTC each.
- **๐จ Major Transfer:** An additional 32,137 BTC moved, totaling over $5 billion to a single address.
- **๐ Current Holdings:** Mt. Gox still owns about 138,000 BTC (~$9.36 billion).
**Impact and Analysis:**
- **๐ Market Reaction:** BTC fell from $69,374 to $67,875 post-transfer.
- **๐ October Deadline:** Mt. Gox plans to return BTC assets to creditors by October 31.
- **๐ Creditor Contact:** Trustees have been verifying creditor identities since January.
**Analyst Warnings:**
- **โ ๏ธ Market Pressure:** K33 Research analysts warned last month that such movements would scare the market and create pressure.
**Stay Informed and Watch for Updates! ๐**
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