As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of market volatility and unexpected moves. The recent events involving Mt. Gox and Bitcoin are no exception.
As reported by Lookonchain, the closed Mt. Gox cryptocurrency exchange has moved approximately $352.69 million into two newly established digital wallets.
Significantly, the transaction occurred following Bitcoin‘s sudden drop in value to around $92,980 earlier today, having reached a fresh record high of $103,608.
Based on information from CoinGlass, an astounding $892.78 million in cryptocurrency was liquidated during the last 24 hours. The large majority of this amount, approximately $718.71 million, came from long positions.
The cryptocurrency is currently trading at $97,889 after paring some losses.
Note that immediately following Bitcoin surpassing $100,000 for the first time on Thursday, Mt. Gox transferred 24,052 BTC (approximately $2.43 billion) to a newly created wallet.
Last month, Mt. Gox was involved in notable Bitcoin transactions, but these actions didn’t deter Bitcoin from experiencing a significant surge in value during November.
In June, the well-known Bitcoin exchange that collapsed in 2014 (losing approximately 850,000 Bitcoins), initiated the process of returning funds.
In October, its repayment deadline was postponed to late 2025.
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2024-12-06 09:08