Gox Surprisingly Returns With Huge Bitcoin Dump, Crypto World On Brink
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BTC
$68,110
-0.66%
Defunct Bitcoin Exchange Mt. Gox transfers $7.2 billion in Bitcoin.
The massive transfer raises questions amid the ongoing process of repaying debts to creditors.
At the time of writing, Bitcoin is trading with a daily loss of 1.53% and a weekly loss of 4.87%.
Blockchain tracker Whale Alert reported that on the morning of May 28, cryptocurrency wallets controlled by the now-defunct company Mt. Gox, transferred approximately 107,547 BTC (equivalent to $7.2 billion) to an unknown wallet.
The initial Whale Alert report detailed the transfer of 3,999 Bitcoin (worth approximately $277 million) from Mt. Gox to an unknown wallet. This move has generated significant interest in the crypto community, especially given the ongoing efforts of Mt. Gox to pay damages to creditors affected by its collapse in 2014. For the uninitiated: Mt. Gox is a Japanese cryptocurrency exchange that collapsed in 2014.
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#BTC Bitcoin Below $70k Reveals Bull Trap. Will the price of BTC drop to $65 thousand?

BTC $69,715 -1.64%

'Bitcoin Below $70K' Post Reveals Bull Trap: Will BTC Price Fall to $65K? first appeared on Coinpedia Fintech News
After a strong overnight recovery of 7.73%, Bitcoin price is showing exhaustion from buyers to support the trend. BTC price fell 1.7% last night and enters Asian trading hours on a bearish note.

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