Mt.Gox transfers a huge amount of BTC, will the market usher in a plummeting storm?
Just now, Mt.Gox's cold wallet caused market shock again! Data shows that it transferred 48,641 BTC to the new address 3JQie...YyFrE, with a value of up to 3.07 billion US dollars. In the past hour, Mt.Gox has transferred a total of 95,869.97 BTC to two addresses, with a total value of an astonishing 6.06 billion US dollars!
This huge amount of BTC transfer has undoubtedly brought huge uncertainty to the market. Since the purpose of this part of the funds has not yet been clarified, the market generally worries that this may be a signal that large funds are seeking to escape. Once these BTCs begin to be sold in large quantities, the market may face a plummeting storm.
We know that Mt.Gox, as a former cryptocurrency exchange giant, has always been the focus of the market. And this large-scale BTC transfer has undoubtedly dropped a huge "bomb" on the market. We need to pay close attention to this trend and take risk prevention measures.
In the cryptocurrency market, the flow of huge amounts of funds can often trigger violent market fluctuations. The BTC transfer of Mt.Gox has brought huge uncertainty and risks to the market. We must remain vigilant and be ready to deal with possible market crashes.
