Mt. Gox Moves $700M in Bitcoin, BTC Unmoved at $59K

Mt. Gox-related selling pressure might raise its head again in the bitcoin (BTC) market. Early Wednesday, an address associated with the defunct exchange moved 13,265 BTC, worth $784 million, of which 12,000 BTC went into an address identified as “1PuQB," according to data tracking platform Arkham Intelligence. Meanwhile, the remaining coins were transferred to the address “1Jbez," identified as Mt. Gox's cold wallet by Arkham. The defunct exchange still holds over 46,000 BTC. The Mt. Gox creditor reimbursements have been a significant source of downward pressure on BTC's price this summer. BTC has held largely steady above $59,000.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android