🚨 MT. GOX SHIFTS $9,000,000,000 IN BTC, MARKET BRACES FOR IMPACT 🚨
In a stunning move, Mt. Gox's cold wallet has transferred over 140,000 Bitcoin (BTC), worth nearly $9 billion, to multiple addresses, sparking widespread market concern. This significant activity follows a two-week hiatus and has led to fears of increased selling pressure in the crypto markets.
🔄 Key Transfers and Addresses 🔄
According to data from Arkham Intelligence, Mt. Gox’s main wallet still holds 138,985 BTC, worth approximately $8.7 billion. Within three hours on July 16, two major transactions moved almost 96,000 BTC (over $6 billion) to two unknown wallets, while an initial transfer of 44,527 BTC was sent to a known Mt. Gox cold wallet.
Unknown Address "BHDct9b" received 42,587 BTC, valued at $2.69 billion.
Unknown Address received 48,641 BTC, valued at $3.07 billion.
Mt. Gox Cold Wallet (1Jbez) received 4641.24 BTC, valued at $293.94 million.
These movements have resulted in over $12 billion worth of Bitcoin being shifted in just a few hours, causing significant market tremors.
📉 Market Reaction 📉
The BTC price, which had nearly reached $65,000 earlier on July 16, plummeted to lows of $63,000 shortly after the transactions were identified. This 3% drop in BTC was mirrored by more severe dips in altcoins such as Uniswap (UNI), Polkadot (DOT), and Bitcoin Cash (BCH), each experiencing over 5% declines.
BTC Price Movement: $65,000 ➡ $63,000 (3% drop)
Altcoins Affected:
Uniswap (UNI): -5%
Polkadot (DOT): -5%
Bitcoin Cash (BCH): -5%
Where will the BTC price go from here?
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