Mt.Gox Transfer of $7B Bitcoin Impacts BTC Market Price

Tuesday, 28 May 2024, 06:01

The recent movement of nearly 107,000 bitcoin by Mt.Gox as part of their repayment strategy has caused a 1.2% drop in BTC price. The transfer has sparked concerns about potential selling pressure affecting the market's stability, leading to a notable price plunge in the cryptocurrency.

https://store.livarava.com/838286b3-1cb8-11ef-a3da-9d5fa15a64d8.jpg — Mt.Gox Transfer of $7B Bitcoin Impacts BTC Market Price

Mt.Gox Repayment Plans Impact Bitcoin Market

Nearly 107,000 bitcoin have been moved since early Asian hours on Tuesday, with bitcoin shedding 1.2% on expectations of selling pressure.

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