{"id":651183,"date":"2024-11-02T09:00:51","date_gmt":"2024-11-02T09:00:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=651183"},"modified":"2024-11-01T17:04:22","modified_gmt":"2024-11-01T17:04:22","slug":"mt-gox-stirs-market-with-500-bitcoin-transfer-wallets","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/mt-gox-stirs-market-with-500-bitcoin-transfer-wallets\/","title":{"rendered":"Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets\u2014What\u2019s Next for BTC?"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Mt. Gox, which was once the largest cryptocurrency exchange globally before its shutdown in 2014, recently <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/mt-gox\" target=\"_blank\" rel=\"noopener nofollow\">transferred<\/a> 500 Bitcoin (worth roughly over $34 million) to two unidentified wallets.<\/p>\n<p data-pm-slice=\"1 1 []\">This transaction, conducted early Friday, marked the first transfer from the defunct exchange since late September of this year.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-set-to-gain-if-trump-wins-jpmorgan-cites-debasement-trade-as-key-factor\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Set To Gain If Trump Wins, JPMorgan Cites \u2018Debasement Trade\u2019 As Key Factor<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">Details Of The 500 BTC Transfer<\/h2>\n<p data-pm-slice=\"1 1 []\">Blockchain analytics firms such as Lookonchain and Arkham has reported that 31.78 BTC was sent to one address and 468.24 BTC to another, with both wallets subsequently dispersing portions of the funds to various other addresses.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The <a href=\"https:\/\/twitter.com\/hashtag\/MtGox?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#MtGox<\/a> wallet transferred 500 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a>($35.04M) out 2 hours ago and currently holds 44,905 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a>($3.11B).<a href=\"https:\/\/t.co\/f2q66eQNuk\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/t.co\/f2q66eQNuk<\/a> <a href=\"https:\/\/t.co\/aDGMhSnuML\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/aDGMhSnuML<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/45332889?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 1, 2024<\/a><\/p><\/blockquote>\n<p>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 <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-boom-is-btc-preparing-for-another-6x-to-462000\/\" target=\"_blank\" rel=\"noopener \">awaiting compensation<\/a> since the platform\u2019s collapse.<\/p>\n<p>These prior distributions were typically facilitated through major crypto exchange platforms such as Bitstamp and Kraken. Currently, Mt. Gox retains a <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/blackrocks-bitcoin-etf-reaches-2-of-total-btc-supply-amid-record-inflows\/\" target=\"_blank\" rel=\"noopener \">substantial holding<\/a> of 44,905 BTC, valued at more than $3 billion.<\/p>\n<p>This recent transfer follows an October announcement by Mt. Gox that <a href=\"https:\/\/www.mtgox.com\/img\/pdf\/20241010_1b5ee10e-cf5b-420e-9e41-43ccd9e515e5_announcement_en.pdf\" target=\"_blank\" rel=\"noopener nofollow\">extended<\/a> its repayment deadline from October 31, 2024, to October 31, 2025.<\/p>\n<figure style=\"width: 560px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/F6helkrb0AAl19q?format=png&amp;name=small\" alt=\"Mt.Gox postpone repayment deadline to next year.\" width=\"560\" height=\"680\"><figcaption class=\"wp-caption-text\">Mt.Gox postpone repayment deadline to next year. | Source: Mt.Gox.com<\/figcaption><\/figure>\n<h2>Bitcoin Price Performance Following The Transfer<\/h2>\n<p data-pm-slice=\"1 1 []\">Following the recorded transfer from Mt.Gox, Bitcoin\u2019s price initially surged, reaching a 24-hour high of $71,500 in the early hours of Friday.<\/p>\n<p data-pm-slice=\"1 1 []\">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 <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-set-to-gain-if-trump-wins-jpmorgan-cites-debasement-trade-as-key-factor\/\" target=\"_blank\" rel=\"noopener \">above its all-time high<\/a> of $73,737 set in March 2024.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/xGRd0dMH\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=OANDA%3AXAUUSD\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Despite the slight <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-open-interest-reduced-by-2-1-billion-in-24-hours-time-for-spot-to-push-the-price\/\" target=\"_blank\" rel=\"noopener \">downturn<\/a>, Bitcoin\u2019s 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\u2019s recent gains.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-active-addresses-signals-golden-cross-what-next-for-btc\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Active Addresses Signals Golden Cross\u2014What Next For BTC?<\/a><\/div>\n<p>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 <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-active-addresses-signals-golden-cross-what-next-for-btc\/\" target=\"_blank\" rel=\"noopener \">broader market engagement<\/a> from high-value traders.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Strong buying momentum has emerged from Binance futures whales<\/p>\n<p>\u201cRecently, the strongest buying pressure since last September has appeared in Binance futures market\u2026 The same pattern is emerging not only in <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a> but also in <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$ETH<\/a>.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/mignoletkr?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">@mignoletkr<\/a><\/p>\n<p>Link \ud83d\udc47\u2026 <a href=\"https:\/\/t.co\/9aXYGMg4HV\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/9aXYGMg4HV<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/25907184?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 1, 2024<\/a><\/p><\/blockquote>\n<p>Interestingly, in spite of the current decrease in BTC&#8217;s price, the asset&#8217;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,<\/p>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u2018Debasement Trade\u2019 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 \u2014 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\u2019s 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\u2019s 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\u2019s 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\u2019s recent gains. Related Reading: Bitcoin\u2019s Active Addresses Signals Golden Cross\u2014What 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 \u201cRecently, the strongest buying pressure since last September has appeared in Binance futures market\u2026 The same pattern is emerging not only in $BTC but also in $ETH.\u201d \u2013 By @mignoletkr Link \ud83d\udc47\u2026 pic.twitter.com\/9aXYGMg4HV \u2014 CryptoQuant.com (@cryptoquant_com) November 1, 2024 Interestingly, in spite of the current decrease in BTC&#8217;s price, the asset&#8217;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<\/p>\n","protected":false},"author":580,"featured_media":651191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,680,1119,78790,6664,10923],"class_list":["post-651183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-price-analysis","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\n<title>Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets\u2014What\u2019s Next for BTC?<\/title>\n<meta name=\"description\" content=\"Mt. Gox, which was once the largest cryptocurrency exchange globally before its shutdown in 2014, recently transferred 500 Bitcoin...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/bitcoin-news\/mt-gox-stirs-market-with-500-bitcoin-transfer-wallets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets\u2014What\u2019s Next for BTC?\" \/>\n<meta property=\"og:description\" content=\"Mt. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets\u2014What\u2019s Next for BTC?","description":"Mt. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Mt. 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