👀👀Why Bitcoin Fell: Mt. Gox Sent Billions of Dollars of BTC 👀👀

Bankrupt cryptocurrency exchange Mt. Gox came to the fore again with the large Bitcoin transfer it made today.

According to data from the Spot On Chain analysis platform, Mt. Gox addresses transferred 37,477 Bitcoins worth approximately $2.84 billion to a new wallet in the morning. This large-scale transfer caused activity in the cryptocurrency markets. According to analysts, Mt. Gox can use these Bitcoins to repay its creditors.

Bitcoin (BTC) price dropped rapidly following this transaction, dropping to $66,760. Also Mt. Gox's bankruptcy administration transferred another 5,110 Bitcoins worth $341 million to one of its cold wallets. Mt. Gox still has a total of 101,507 BTC in its wallets, corresponding to a value of approximately $6.7 billion.

Mt. Gox creditors will be able to receive their refunds through exchanges such as Kraken and Bitstamp. Mt. Gox had recently sent small amounts of Bitcoin to Bitstamp, and Bitstamp officials stated that payments would be made to investors in a short time.

Previous Mt. Although Gox transfers did not cause serious declines in the market, they caused minor withdrawals in assets such as Bitcoin and Bitcoin Cash (BCH). Many analysts believe that Mt. He thinks Gox's selling pressure is already priced in the market.

My dear friends, do not hesitate to give your free support. I am trying to bring such news to you instantly. My only request from you is that if there is anyone who does not follow me yet, I would be happy if they follow me. Do not forget to like my articles and posts. Thank you.