Mt. Gox Moves 13,265 Bitcoins, BTC Loses $60K Support

As per the latest on-chain development, the crypto exchange Mt. Gox has once again moved a massive 13,265 Bitcoins worth a staggering $784 million to two unknown wallets in the last few hours.

Crypto exchange Mt. Gox has moved 13,265 Bitcoins, valued at $784 million, to two unknown wallets, as per the latest on-chain development. The move comes as BTC has lost the key price support of $60,000 in recent hours.

Mt. Gox Repayment Continues

A week after moving $2 billion in Bitcoins to BitGo, Mt. Gox has now transferred another $784 million in BTC to two unknown wallets, according to data from Arkham Intelligence. The defunct exchange transferred 95,523 Bitcoins, totaling $6.14 billion, to crypto exchanges in the last stage of the Mt. Gox rehabilitation plan, which began last month. The exchange still holds 46,164 BTC, valued at $2.74 billion at the current BTC price. The Japanese exchange is expected to complete the repayment process by the end of the year, as previously reported.

Crypto exchange Mt. Gox has once again moved a massive 13,265 Bitcoins, valued at a staggering $784 million, to two unknown wallets in the last few hours. The move comes as BTC has lost the crucial price support of $60,000 in recent hours.

Mt. Gox Bitcoin Repayment Continues

A week after the crypto exchange Mt. Gox moved $2 billion in Bitcoins to the crypto exchange BitGo, it has now moved another $784 million in BTC to two unknown wallets. Data from Arkham Intelligence shows that the defunct exchange transferred $709.44 million in BTC to wallet address “1PuQB…nWhTb” and another $74.77 million of BTC to address “1Jbez…LAPs6”. These BTC can further move to exchange addresses for repayment purposes.

During the last month of July, the defunct exchange transferred 95,523 Bitcoins, valued at a staggering $6.14 billion, to crypto exchanges such as BitGo, Kraken, Bitstamp, and others for repayment. Despite the current transfers, Mt. Gox still continues to hold 46,164 BTC, valued at $2.74 billion, at the current BTC price. As per the previous reports, the Japanese exchange is likely to complete the repayment process by the end of this year.

BTC Faces Rejection at $60,000

In other news, BTC has failed to sustain above the key price support of $60,000. The world’s leading cryptocurrency dropped below this level after facing a strong rejection at $62,000. At the time of writing, BTC trades at $59,664 and has lost 0.8% over the last day, while it has gained 11.3% over the last week and 41.6% up year-to-date.

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