🚨Mt. Gox has moved $931 million worth of BTC to unknown addresses during market volatility🚨

Mt. Gox moved $931 million in Bitcoin to unknown addresses during uncertain market conditions. The now-defunct crypto exchange transferred 11,833 Bitcoin. An analysis by Arkham Intelligence showed that on March 1, this Bitcoin was sent to a warm wallet, which is now considered an official Mt. Gox address. Mt. Gox still has around 35,915 Bitcoin worth about $2.85 billion.

In the past, the market has reacted to Mt. Gox's transactions due to worries about potential sell-offs, although this impact has lessened over time. Today's transfers haven't significantly affected Bitcoin's price, but traders are being careful. The market faces the risk of more selling pressure because of possible repayments to creditors.

Mt. Gox is still in a long bankruptcy process after losing over 800,000 Bitcoin in 2014. Many creditors are still waiting for Bitcoin payouts, even though some have received cash. The deadline for repayments was extended to October 31, 2025, pushing back any potential liquidation.

BitMEX co-founder Arthur Hayes mentioned in a March 11 post that Bitcoin might hit a low near $70,000, similar to past bull market corrections. He suggested that actions from central banks and falling stock indices could affect Bitcoin's next big movement.

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