Bitcoin Falls Below $63,000 as Mt. Gox Moves $2.8 Billion in BTC to Internal Wallets
One observer said the coin movement was likely part of the exchange's creditor repayment plan.
BTC faced renewed selling pressure on Tuesday after blockchain data showed that defunct exchange Mt. Gox began moving coins internally for potential repayments to creditors.
The leading cryptocurrency by market value fell 3% below $63,000, after testing the $65,000 mark.
The drop occurred when the wallet associated with Mt. Gox initially moved 0.021 BTC ($1,000) to the blockchain address: 1EoZd1QNCiN9JbnsqvLRDbHKLygAsXHg3V.
The small move, supposedly a proof of transfer, was followed by a significant move of 44,527 BTC ($2.84 billion) to an internal wallet, according to data tracked by Arkham Intelligence.
According to online blockchain researcher Lookonchain, the move was likely part of the payment plan. Cryptocurrency exchange Kraken has reportedly confirmed payments to creditors and said it has received the funds and will distribute them in the next two weeks.
