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Mt. Gox moves $739M in Bitcoin, sparking fears of new sell-offs and Bitcoin price drop.

Market News
02 Jun 2026, 13:32 WIB
Coinpaper
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Bearish
Mt. Gox moves $739M in Bitcoin, sparking fears of new sell-offs and Bitcoin price drop.

Mt. Gox transferred about 10,306 BTC worth $739 million, its first major Bitcoin movement in over two months, raising speculation about possible creditor repayments. This transfer caused Bitcoin's price to drop 2.12% to around $79,569 as investors worry about potential selling pressure from creditors who have awaited repayment since the 2014 collapse. Despite the transfer, Mt. Gox still holds approximately 34,504 BTC valued at $2.41 billion. While the transfer does not confirm immediate payouts, it highlights ongoing market uncertainty and the slow repayment process that began in July 2024 through partners like Kraken and Bitstamp.

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