Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets—What’s Next for BTC?
02 Novembre 2024 - 10:00AM
NEWSBTC
Mt. Gox, which was once the largest cryptocurrency exchange
globally before its shutdown in 2014, recently transferred 500
Bitcoin (worth roughly over $34 million) to two unidentified
wallets. This transaction, conducted early Friday, marked the first
transfer from the defunct exchange since late September of this
year. Related Reading: Bitcoin Set To Gain If Trump Wins, JPMorgan
Cites ‘Debasement Trade’ As Key Factor Details Of The 500 BTC
Transfer Blockchain analytics firms such as Lookonchain and Arkham
has reported that 31.78 BTC was sent to one address and 468.24 BTC
to another, with both wallets subsequently dispersing portions of
the funds to various other addresses. The #MtGox wallet transferred
500 $BTC($35.04M) out 2 hours ago and currently holds 44,905
$BTC($3.11B).https://t.co/f2q66eQNuk pic.twitter.com/aDGMhSnuML —
Lookonchain (@lookonchain) November 1, 2024 While the recipients of
these funds remain unknown, the transaction has sparked
speculation. However, past transfers from Mt. Gox wallets have
often signaled upcoming repayments to creditors, who have been
awaiting compensation since the platform’s collapse. These prior
distributions were typically facilitated through major crypto
exchange platforms such as Bitstamp and Kraken. Currently, Mt. Gox
retains a substantial holding of 44,905 BTC, valued at more than $3
billion. This recent transfer follows an October announcement by
Mt. Gox that extended its repayment deadline from October 31, 2024,
to October 31, 2025. Bitcoin Price Performance Following The
Transfer Following the recorded transfer from Mt.Gox, Bitcoin’s
price initially surged, reaching a 24-hour high of $71,500 in the
early hours of Friday. However, a correction has followed, with
Bitcoin now trading down by 1.5%, settling at a price of $69,450,
at the time of writing. This dip is seen as a disappointment to
investors, especially as Bitcoin recently experienced an optimistic
rally that nearly pushed it above its all-time high of $73,737 set
in March 2024. Despite the slight downturn, Bitcoin’s market
fundamentals remain resilient. A recent analysis by a CryptoQuant
analyst highlights that significant buying pressure is emerging
from Binance futures whales, who are reportedly driving much of
Bitcoin’s recent gains. Related Reading: Bitcoin’s Active Addresses
Signals Golden Cross—What Next For BTC? According to the analyst,
this futures-led buying momentum marks the strongest pressure
observed in the Binance futures market since September 2023. This
trend is not only visible with Bitcoin but also extends to other
major assets like Ethereum, indicating broader market engagement
from high-value traders. Strong buying momentum has emerged from
Binance futures whales “Recently, the strongest buying pressure
since last September has appeared in Binance futures market… The
same pattern is emerging not only in $BTC but also in $ETH.” – By
@mignoletkr Link 👇… pic.twitter.com/9aXYGMg4HV — CryptoQuant.com
(@cryptoquant_com) November 1, 2024 Interestingly, in spite of the
current decrease in BTC’s price, the asset’s daily trading volume
has seen an opposite trend rising from below $45 billion as of
yesterday to above $52 billion, at the time of writing, Featured
image created with DALL-E, Chart from TradingView
Quant (COIN:QNTUSD)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Quant (COIN:QNTUSD)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024