After the completion of the German government's Bitcoin sales last week, there was a relief in the Bitcoin market. In weekend trading, Bitcoin rose to the $65,000 mark, pricing in positive developments. However, another selling pressure remains on the agenda for the crypto market.
According to Blockchain data, Mt. announced that it would start giving refunds to users last month. Gox appears to be taking action. Lookonchain data bankrupt Mt. It was revealed that Gox's board of trustees started to move Bitcoin assets to creditors.
Bitcoin is under new pressure
Mt. Gox's Bitcoin transfers, the cryptocurrency started the week at the $ 65,000 level and then fell to the $ 62,000 region with the sales that started during Asian trading hours.
According to Arkham data, transfers, Mt. It started after a small amount of transactions were made from BTC wallets marked as belonging to Gox. According to the data, Mt. Gox transferred 44,527 BTC worth approximately $2.84 billion today.
While this transfer caused concerns to rise again in the market, some cryptocurrencies with high market value, along with Bitcoin, retreated in the range of 4% from the peak levels of the day. It seems that the market has priced in the possibility of a mass sale by creditors following the large transfer.
Kraken, Mt. Confirmed that he received Bitcoin from Gox, gave date for payments
US-based cryptocurrency exchange Kraken confirmed Bitcoin sending from Mt.Gox today. In the statement made by the crypto exchange, it was stated that Bitcoins will be transferred to creditors within 7 to 14 days.
Following this announcement, there was a partial recovery in Bitcoin and the cryptocurrency rose slightly towards the $ 63,700 band. As a result, Mt.Gox pressure is likely to remain on the cryptocurrency market throughout July. We can see that the direction of Bitcoin may be shaped by whether possible sales exceed the daily BTC transaction volume or not.
