Mt. Gox Moves Over 32,000 BTC to New Wallet Addresses in Preparation for Future Sales, Bitcoin Prices Drop
Defunct cryptocurrency exchange Mt. Gox has transferred over 32,000 BTC, worth $2.2 billion, to new wallet addresses in preparation for future sales. This has had an impact on market volatility, as the ongoing repayment plan has been extended to October 2025. Bitcoin prices dropped on Tuesday following the large transfer, with traders anticipating further market volatility ahead of the US elections. BTC slid below $68,000, losing 2% in the past 24 hours, and traders are predicting price swings of up to $8,000.
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