The encryption market fell to the lowest level in four months, as the Gox Bitcoin moved fresh turmoil
The cryptocurrency market continues to face sharp declines, as the total maximum market decreased to 2.44 trillion dollars on Tuesday – the lowest level since early November.
One of the important factors that add to the investor’s concerns is the last movement of Bitcoin from Mount Jooks, a exchange that collapsed more than a decade ago.
The platform transferred 11,833 BTC, at a value of approximately $ 932 million, raising a new uncertainty about the potential impact of the market stability.
This development also raised more than $ 937 million in the rank within 24 hours, which increased fluctuations across the digital asset markets.
Mount Gox move Bitcoin reserves
MT. Gox again moving a large part of Bitcoin’s possessions, turning into approximately 11,834 BTC with a value of approximately $ 910 million.
From this, 11,502 BTC (about 885 million dollars) were sent to a new portfolio, while 332 BTC ($ 25.5 million) was transferred to a “warm” portfolio used in transactions and box management.
The Mount Gox has just moved 11,834 $ BTC (910 million dollars) again! This includes 11502 $ BTC (885 million dollars) for a new portfolio and 332 $ BTC ($ 25.5 million) for a warm portfolio. It is worth noting, after the last specialty of Mount Gox $ BTC Transfer 5 days ago, 166.5 $ BTC It was sent to #BitoMost likely to pay creditors. Above 332 $ BTC…
The movement comes just five days after sending the 166.5 BTC platform to BITGO, which is the goalkeeper of digital assets, indicating a continuous process of distributing payment to creditors who lost money during the stock exchange collapse.
On Monday, a transfer arose from the Mount Gox “1MO1N”, which received $ 1.07 billion from Bitcoin from another exchange last week.
However, at the time, Arkham Intelligence did not recognize the Blockchain analysis platform on “1MO1N” as Gox’s Mountain Wallet, adding speculation about the purpose of transactions.
The latest transportation operations now confirm that the stock exchange is advancing with the long -awaited creditors.
Bitcoin supply fears grow
The release of this large volume of bitcoin on the market has increased concerns about possible price fluctuations.
The primary fear is that creditors, who have waited for years to recover their money, may sell Bitcoin when they receive.
The sudden flow of bitcoin may lead to a decrease in prices, which exacerbates the current market shrinkage.
Some payments have already been treated with exchanges such as Kraken and Bitstamp, but the full distribution remains a drawn process.
The deadline for the official payment has been extended to October 31, 2025, which means that more bitcoin movements from the Governor of Mount Gox can continue in the coming months.
Nowadays, the stock market still holds nearly $ 2.8 billion in bitcoin in its governor, a number that can significantly affect market dynamics depending on creditors’ procedures.
Increase encryption
The encryption market reaction was sharply with the latest MT. transfers. Gox, which led to wide -scale liquidation through multiple exchanges.
Within 24 hours of bitcoin movements, more than $ 937 million of positions were filtered, highlighting the increasing uncertainty among investors.
Bitcoin, which has already been pressured by total economic concerns, has witnessed additional pressure for sale as traders expected to increase the expected creditor fluctuations.
The broader effects of the continuous features of the Gox Mountain are still unconfirmed. If the creditors decide to keep the paid bitcoin, the market effect may be small.
However, if a large part is sold, bitcoin prices may face more negative pressure. Analysts closely monitor the governor of MT. Gox for more activity and continuing the payment process.
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