Mt. Gox BTC Transfers Poised to Strike Another Terror on the Crypto Space

The crypto markets have undergone massive price action since the start of the month. The tokens started the monthly trade with a massive descending

The crypto markets have seen a lot of price action this month. The tokens began the month in a steep descending trend as a result of the selling pressure. This was further exacerbated by a few FUD attacks on the markets, such as the BTC transfers from Mt. Gox and the German government. Additionally, the sale of more than 40,000 BTC caused bearish waves throughout the markets.

Now that the markets seem to have weathered the selling pressure, another scare is about to hit the crypto world. The well-known transfers from the infamous Mt. Gox exchange fiasco could have a similar effect on the markets. According to recent data from Arkham, a well-known on-chain platform, $5.8 billion in BTC has been moved since the early trading hours.

TODAY: $5.8B MT. GOX BTC ON THE MOVE

Mt. Gox wallets moved a total of 91,755 BTC ($5.8B) this morning to new addresses.

According to reports, the creditors received an email from the exchange stating that the funds have been received from Mt.Gox and that it will take an additional 7 to 14 days to distribute them. The Trustee has already determined the amount of BTC that will be received and will distribute it in accordance with the instructions provided.

As a result, another Bitcoin FUD seems to be in the works, with the price dropping by 3% following this news. The Mt. Gox situation could be a人为制造的 FUD, which might compel traders to sell their assets. However, based on past cycles, it appears that the market makers have used the Mt.Gox news to manipulate the markets multiple times, and this time, it may not have a significant impact as everyone may quickly forget this situation, just like they did with the FUD that followed the Germans selling their BTC.

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