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At about 7:30 this morning, the Mt.Gox (Mentougou Exchange) cold wallet transferred about 33,964 BTC to an unknown address, with a value of nearly 2.25 billion US dollars. Will this cause selling pressure on Bitcoin?

According to Arkham real-time data, the Mt.Gox address transferred about 33,964 BTC to an unknown address (bc1q2..) at around 7:30 this morning, with a value of nearly 2.25 billion US dollars. It is likely to be a compensation, but it is not clear to which exchange the money was transferred?

Since the beginning of July, when compensation began, Mt. Gox has transferred out about 95,500 BTC. Currently, there are about 46,000 BTC left in the wallet, with 30% remaining. The impact on the price of Bitcoin is gradually weakening.

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Bitcoin once fell below $65,000

In terms of price, Bitcoin hit a low of $65,300 at 4:00 this morning, but soon recovered to above $66,000, and was reported at $66,342 at the time of writing. Even after the news of Mt.Gox transferring $2.25 billion in Bitcoin came out, the price did not fluctuate much.

I am not sure whether it is because these BTC have not been transferred to the creditors, or because the market has slowly adapted to the impact of the Mt.Gox selling pressure and is continuing to chase the bottom? However, the dynamic zone reminds that the latest interest rate decision will be announced at the FOMC meeting of the Federal Reserve tomorrow morning, so please be careful of possible fluctuations.

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Top 10 Token Performance

As for Ethereum, it fell below $3,300 again this morning. At the time of writing, it was trading at $3,278, down 1.55% in the past 24 hours.

The other top ten tokens saw mixed gains and losses. The biggest gainer was XRP, which rose 6.61% in the past 24 hours; the biggest loser was DOGE, which fell 3.49% in the past 24 hours.

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In the past 24 hours, the entire network has liquidated $115 million

According to Coinglass data, in the past 24 hours, the total amount of cryptocurrency liquidation was approximately US$115 million, and more than 44,000 people were liquidated (long positions accounted for nearly US$93 million).

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