The bankrupt crypto exchange Mt Gox has stirred market discussions by transferring 24,052 BTC worth $2.43 billion shortly after Bitcoin reached a historic price of $100,000.
On-chain data revealed the transaction, which moved the assets to a new wallet, sparked fears about a potential sell-off from creditors. Despite speculation that the wallet may belong to Mt Gox itself, concerns remain since creditors have yet to receive repayment.
Mt Gox reportedly still holds 15,826 BTC valued at $1.63 billion across 31 wallets, raising questions about its financial maneuvering amid ongoing repayment plans. This activity comes after the exchange moved 2,570 BTC just a month prior, heightening scrutiny of its motives and market impact.
Meanwhile, Bitcoin’s price rally—boosted by market optimism tied to pro-crypto policies from political figures like Donald Trump—saw the cryptocurrency hit a record $103,900. A surge in Bitcoin futures open interest and derivatives volume indicates growing investor enthusiasm. However, analysts caution about the possibility of a market correction, with predictions for BTC hitting $135,000 or even $159,000 before potentially pulling back by 15-30%.
Amidst these developments, market attention remains on Mt Gox's movements, as any significant selling by creditors could dampen Bitcoin's bullish momentum. Observers are particularly wary of the risks if BTC prices drop below the $100,000 threshold, prompting speculation of further volatility.
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