The billion-dollar transaction of Mt. Gox’s billion-dollar transaction has affected the bitcoin rate

The story of Mt. Gox story came to light again this week, as the exchange that went bankrupt almost a decade ago made a new large transfer of bitcoins BTC $82,726.73 Bitcoin 0.35% Market capitalization $1.64 trillion VOL. 24 hours $0.74 billion . The total transaction amounted to about a billion dollars. According to Lookonchain, more than 10,600 BTC, which equates to about $ 927 million, went to the new wallet. Another 893 BTC, worth about $ 78 million, were transferred to the hot wallet, which may indicate preparations for further transactions.

This is not the first major movement of Mt. Gox’s first major asset movement in March. Earlier, on March 11, the exchange made a similar transfer, and on March 6, it transferred even more — more than $ 1 billion in bitcoin to a new wallet. All of these transactions have increased market worries about possible pressure on the bitcoin price.

Following the latest transfer from Mt. Gox, the value of bitcoin plummeted. The day before, on Monday, the price of the cryptocurrency on the Bitstamp exchange reached an intraday peak of $ 88,772. However, on Tuesday, it dropped by 3% from that level.

Analysts do not rule out that large transactions by Mt. Gox’s large transactions were one of the reasons for this decline. Investors could have taken them as a signal of a possible sale of some assets, which increased pressure on the market.

However, it is worth noting that the negative dynamics affected not only cryptocurrencies. Before the release of important economic statistics, futures on US stock indices also showed a decline. At the beginning of the week, bitcoin grew alongside the major US stock indices, but now both markets are under pressure.