CryptoQuant, a market intelligence platform, has dismissed concerns over recent Bitcoin (BTC) transfers by defunct crypto exchange Mt. Gox. In a recent report, the firm stated that the movement of 138,000 BTC, equivalent to around $9.4 billion, between Mt. Gox's trustee addresses will not cause immediate selling pressure on the digital asset.

The crypto community had speculated that these transfers signaled the start of repayments to Mt. Gox creditors. However, CryptoQuant clarified that the new addresses receiving the bitcoins belong to Mt. Gox's Rehabilitation Trustee, the attorney managing the repayment process.

An announcement on May 28 confirmed that the exchange has not begun making repayments to creditors nor sold any BTC or cryptocurrency in relation to this. CryptoQuant stated that these types of transfers seem to be a prelude to the Trustee initiating repayments under the Rehabilitation Plan.

Therefore, the analysts believe that these transactions will not cause immediate sell pressure for BTC as the assets are not yet available to the open market. This news is a positive indication for the market, demonstrating the robustness of the digital asset ecosystem.