Bitcoin May Drop to $54,000 as Mt. Gox Moves $860 mln in BTC

CoinMarketCap08-22

The post Bitcoin May Drop to $54,000 as Mt. Gox Moves $860 mln in BTC appeared first on Coinpedia Fintech News On August 21, 2024, the defunct and oldest crypto exchange, Mt. Gox, moved a significant ...

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Gox Moves $860 mln in BTC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-22 00:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/66c6197f03bc7e3e4970ac87/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The post Bitcoin May Drop to $54,000 as Mt. Gox Moves $860 mln in BTC appeared first on Coinpedia Fintech News\nOn August 21, 2024, the defunct and oldest crypto exchange, Mt. Gox, moved a significant ...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/66c6197f03bc7e3e4970ac87/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861559042.SGD","symbol_name":"日兴方舟颠覆性创新基金B SGD","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/66c6197f03bc7e3e4970ac87/","article_id":"2461876116","we_media_id":null,"thumbnails":["https://s2.coinmarketcap.com/static/cloud/img/news/placeholder1.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461876116","pubTimestamp":1724258687,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"The post Bitcoin May Drop to $54,000 as Mt. Gox Moves $860 mln in BTC appeared first on Coinpedia Fintech News. On August 21, 2024, the defunct and oldest crypto exchange, Mt. Gox, moved a significant over 14,530 Bitcoin  worth $860 million in the last 24 hours, as the on-chain analytic firm Spotonchain reported. Following these transactions, the overall cryptocurrency market experienced massive selling pressure.With the recent transfer, Mt. Gox now holds a massive 32,898 BTC worth $1.95 billion across 28 wallets.Since July 5, 2024, Mt. Gox. has transferred a substantial 107,958 BTC worth $6.81 billion to various centralized exchanges including Bitstamp, SBIVC, Kraken, OKX, and Binance for creditor repayment. However, these billions worth of Bitcoin are still in the hands of these exchanges as creditor repayment has yet to begin.As of now, market sentiment is extremely bearish. In addition to the Mt. Gox, gold has also reached its all-time high, which potentially creates a fear in the ","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4539":"次新股","BK4588":"碎股","BK4547":"WSB热门概念","BK4595":"比特币概念","BK4516":"特朗普概念","BK4023":"应用软件","BTC":"Grayscale Bitcoin Mini Trust","BK4554":"元宇宙及AR概念","BITX":"2X BITCOIN STRATEGY ETF","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4551":"寇图资本持仓","BK4112":"金融交易所和数据","COIN":"Coinbase Global, Inc.","BK4535":"淡马锡持仓","BK4585":"ETF&股票定投概念"},"translate_title":"随着Mt.Gox转移8.6亿美元的BTC，比特币可能跌至54,000美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COIN":1,"BTC":1,"BITX":0.8},"content_text":"The post Bitcoin May Drop to $54,000 as Mt. Gox Moves $860 mln in BTC appeared first on Coinpedia Fintech News\nOn August 21, 2024, the defunct and oldest crypto exchange, Mt. Gox, moved a significant over 14,530 Bitcoin (BTC) worth $860 million in the last 24 hours, as the on-chain analytic firm Spotonchain reported. Following these transactions, the overall cryptocurrency market experienced massive selling pressure.\nMt. Gox $860 Million BTC Transfer\nWith the recent transfer, Mt. Gox now holds a massive 32,898 BTC worth $1.95 billion across 28 wallets. \nSince July 5, 2024, Mt. Gox. has transferred a substantial 107,958 BTC worth $6.81 billion to various centralized exchanges including Bitstamp, SBIVC, Kraken, OKX, and Binance for creditor repayment. However, these billions worth of Bitcoin are still in the hands of these exchanges as creditor repayment has yet to begin.\n\n\n\n Mt. Gox just deposited 1,265 $BTC ($75M) to #Bitstamp 30 minutes ago.Since July 5, 2024, Mt. Gox has transferred out a total of 107,958 $BTC ($6.81B), including:• 62,935 $BTC ($4.12B) to #Bitstamp, #SBIVC, #Kraken, #OKX, and #Binance for creditor repayments;• 45,023… pic.twitter.com/9GfFELGNlA— Spot On Chain (@spotonchain) August 21, 2024\n\n\n\nExpert Comments for Mt. Gox’s Creditors\nHowever, concerns remain about what will happen once these creditors receive their BTC and potentially start selling it off. Over this concern, Maria Carola, the CEO of StealthEX a cryptocurrency exchange, made a statement that creditors are opting to hold their currencies due to the potential of BTC and its rapid evolution and significant adoption. \nDespite this significant transfer, BTC is trading near $59,720 and has experienced a price surge of over 1.5% in the last 24 hours. Meanwhile, its trading volume has dropped by 18% during the same period, indicating reduced participation from traders.\nBitcoin Technical Analysis and Key Levels\nAccording to expert technical analysis, Bitcoin (BTC) looks bearish as it is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. Additionally, it has been consolidating within a small range for the last 14 days.\n\n\n  Source: Trading View\n \n\nIf BTC breaks down this consolidation zone and the daily candle closes below the $57,880 level, there is a high possibility it could fall to the $54,000 level or even more. \nAs of now, market sentiment is extremely bearish. In addition to the Mt. Gox, gold has also reached its all-time high, which potentially creates a fear in the cryptocurrency landscape.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461876116"}