Mt.gox transferred 30,000 BTC, and the compensation that has been waiting for ten years has arrived as promised!
Half an hour ago, Mt.gox transferred 12,000 BTC, and just transferred 30,000 BTC again. Mt.gox once reappeared with Satoshi Nakamoto and called it a negative double kill. Now Mt.gox has frequent abnormal movements, and the compensation that has been waiting for ten years seems to be coming. If you hear about Mt.gox for the first time, I will help you sort out the whole process of Mt.gox's compensation.
In 2012, Mt.gox's transaction volume accounted for 80% of the world, exceeding the current BN, OK and Coinbase, but it was such a platform that was hacked and 850,000 BTC was stolen. In 2014, Mt.gox declared bankruptcy.
In 2017, Mt.gox recovered 200,000 BTC, and the price of BTC at this time was 618 times that of 2011.
In June 2018, Japan approved the compensation of Mt.gox's creditors. That year, forked coins became popular, and BCH and BSV emerged one after another. The compensation also included forked coins, so the creditors made 2 times more money without doing anything.
In 2020, Japan postponed the compensation of Mt.gox, which made the creditors span the bull market in 2021. At this time, BTC soared 15 times again.
Finally, in 2023, Japan gave the deadline for compensation as November 2024. The compensation of 140,000 BTC plus the 140,000 BCH forked. Who would have thought that the unlucky person who ran away at the beginning would become the luckiest person ten years later.
The first time these people get the coins, they should put them in their pockets, so many people keep a close eye on the changes in the Mt.gox address. Once Mt.gox starts to compensate, it means that the market faces unprecedented selling pressure.
But I think the current market has sufficient liquidity after the ETF, which is completely different from ten years ago, so we can pay close attention to changes, but there is no need to panic.
BTC:
BTC: The volume fell below the 5-day line. Yesterday, we talked about BTC needing to stand firm on the support line to further support the market and rise. The hourly line further tested the bottom support. The $67,342 below is the key point of the M head formed on May 24. Once the volume falls below $67,342, it will accelerate the bottoming out and weaken. Next, BTC will step back to test $67,342.
Resistance level: 69146, 70425, 71853
Support level: 67342, 66455, 65234
ETH:
5,300 ETH were transferred to Coinbase, which had a negative impact on ETH. ETH made a double-head bottoming, and the hourly line peak was lowered, facing resistance suppression. The $3,805 below is the key point of the support line. Only by standing firm at $3,805 can it support the market and rise. Next, with the weakening of the long volume, ETH needs to further test the bottom support of $3,805.
Resistance level: 3893, 3966, 4162
Support level: 3805, 3736, 3654
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