Bitcoin News
By Evie Vavasseur
1 / 15
Where Did the Bitcoin Go?. Blockchain analytics firm Look on chain, citing Arkham Intelligence data, revealed that most of…
2 / 15
Bitcoin’s Price Takes a Hit—But Recovers. Shortly after the transfer, Bitcoin experienced a sharp drop, falling 2.
3 / 15
How Much Bitcoin Does Mt. Gox Still Hold?. Since starting its repayment process in June 2024, Mt.
4 / 15
What’s Next for Bitcoin?. The crypto community remains on high alert for future Bitcoin transfers from Mt. Gox.
5 / 15
Final Thoughts. Mt. Gox’s latest Bitcoin move signals further progress in its long-overdue repayment process.
6 / 15
Mt. Gox, the infamous defunct crypto exchange, has made another significant Bitcoin transfer, moving 11,833 BTC worth approximately $931 million on March 11.
7 / 15
Blockchain analytics firm Look on chain, citing Arkham Intelligence data, revealed that most of the Bitcoin—11,501 BTC (worth $905 million)—was sent to a new wallet.
8 / 15
Some analysts believe that the smaller transaction could be an early step toward distributing funds to creditors.
9 / 15
Surprisingly, despite the massive amount of Bitcoin being moved, the transaction fees were incredibly low. The entire process cost just $2.
10 / 15
Shortly after the transfer, Bitcoin experienced a sharp drop, falling 2.4% to $76,784 within just 30 minutes.
11 / 15
However, Bitcoin quickly rebounded to $79,275, suggesting that traders absorbed the initial selling pressure.
12 / 15
Arthur Hayes, the former CEO of Bit MEX, weighed in on the situation. In a March 11 post on X (formerly Twitter), he advised investors to "be patient" and suggested that Bitcoin…
13 / 15
Since starting its repayment process in June 2024, Mt. Gox has been gradually reducing its Bitcoin reserves.
14 / 15
This is a significant drop from the estimated $9.2 billion in Bitcoin that Mt. Gox held before beginning the repayment process.
15 / 15
The crypto community remains on high alert for future Bitcoin transfers from Mt. Gox. If more large sums are moved and liquidated, Bitcoin could face additional short-term…
The Currency Analytics
Want the full story?