$2.8B Mt. Gox Bitcoin On The Move Again — How Does BTC React?
Portfolio Pulse from Murtuza Merchant
Mt. Gox has moved $2.8 billion worth of Bitcoin, raising concerns about potential selling pressure. Despite the large transfers, Bitcoin prices have remained stable. Mt. Gox is in the process of compensating creditors affected by a 2014 hack, with more distributions expected in the coming months.
July 24, 2024 | 2:21 pm
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Mt. Gox moved $2.8 billion worth of Bitcoin, raising concerns about potential selling pressure. Despite this, Bitcoin prices have remained stable, indicating resilience in the market.
The large transfer of Bitcoin by Mt. Gox could have led to a price drop due to selling pressure. However, the price of Bitcoin has remained stable, suggesting that the market has absorbed the news without significant impact. This indicates a neutral short-term impact on Bitcoin prices.
CONFIDENCE 80
IMPORTANCE 90
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