Mt. Gox’s recent BTC transfer raises concerns about Bitcoin’s price stability.
Bitcoin’s price surged despite large BTC transfers and market speculation.
Mt. Gox holds 44,378 BTC, with a portfolio value of $3.93 billion, affecting liquidity.
Mt. Gox attracted a lot of attention in the crypto market after it moved 2,570 BTC, around $228 million, to an unknown wallet. This transfer sparked concern in the crypto community; worried that it may affect Bitcoin’s price.
Bitcoin has had a strong rally, but this transfer may stop the market’s growth and increase the chance of a price pullback.
Arkham data show that Mt. Gox moved 2,570 BTC to a wallet called “1PQZw…DDJtK.” The transaction happened while the market was active.
This transfer follows another transfer of $2.4 billion in BTC between cold wallets connected to Mt. Gox. That transfer was 30,000 BTC, and it sparked questions about Bitcoin’s liquidity and price stability.
Mt. Gox Portfolio: A Closer Look
According to the data, Mt. Gox holds a portfolio valued at approximately $3.93 billion. The exchange’s assets are mostly Bitcoin. It holds 44,378 BTC. Market data show th…
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