Bitcoin Drops Over 3% Amid Renewed Mt. Gox Concerns

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The decline occurred as Bitcoin from Mt. Gox moved between wallets associated with its rehabilitation program.

Bitcoin experienced a drop of over 3% on July 16 due to concerns related to the defunct exchange Mt. Gox.

Data from Cointelegraph Markets Pro and TradingView indicated that BTC’s price was under pressure after reaching $65,000 on Bitstamp.

The decline occurred as Bitcoin from Mt. Gox moved between wallets associated with its rehabilitation program.

Crypto intelligence firm Arkham reported that approximately 92,000 BTC (valued at around $5.7 billion) was transferred out of Mt. Gox’s cold wallet, constituting about two-thirds of the exchange’s total holdings.

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