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Arkham

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Bitcoin (BTC) failed to hold the $68,000 mark on Tuesday as Mt. Gox initiated a heavy transaction to repay its creditors. BTC price slid to the lower levels of $66,000 as selling pressure increased in the market. 
Also read: <a href="https://www.cryptopolitan.com/grayscale-spot-ethereum-etfs-launch-with-1b/">Grayscale prepares for spot Ethereum ETFs launch with $1 billion</a> 
In the latest move, the defunct crypto exchange Mt. Gox shifted more than 47.5K Bitcoin (approx worth $3.2 billion) to multiple crypto addresses. 
According to Arkham, <a href="https://www.cryptopolitan.com/mt-gox-creditors-report-multiple-brute-force/">Mt. Gox</a> transferred 42.6k BTC ($2.85 billion) to an address starting with 15yPU at 13:06 UTC+8. The next transaction made by the defunct crypto exchange’s cold wallet turned out to be 2,238 BTC ($149 million) to Bitstamp. It also moved 2,871 BTC ($191 million) to an unmarked address. 
<h3 id="span-style-font-weight-400-mt-gox-still-holds-90k-bitcoin-span">Mt. Gox still holds 90k Bitcoin</h3> 
Mt. Gox has sent 5110 Bitcoin, worth approximately $340 million, to 4 separate Bitstamp addresses. Bitstamp is one of the 5 exchanges that Mt. Gox Trustee is working with in order to return funds to creditors. 
It also sent 1598 BTC, worth approximately $106.3 million, to Bitstamp cold wallet starting with 3QTCJEY, while its wallet beginning with 3QVD5Hv received 2239 BTC, worth approximately $149.1 million. 
<a href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox" rel="nofollow noopener" target="_blank">Data shows</a> that Mt. Gox still holds 90.3k Bitcoin, worth approximately $6.02 billion. 
<figure id="attachment_559124" aria-describedby="caption-attachment-559124" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-559124 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/07/mt-gox-portfolio.jpg" alt="" width="937" height="631" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/07/mt-gox-portfolio.jpg 937w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/mt-gox-portfolio-300x202.jpg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/mt-gox-portfolio-768x517.jpg 768w" sizes="(max-width: 937px) 100vw, 937px">
 <figcaption id="caption-attachment-559124" class="wp-caption-text">
 Source: Arkham
 </figcaption>
</figure> 
<h3 id="span-style-font-weight-400-bitcoin-etfs-record-486m-inflow-as-price-span-span-style-font-weight-400-slides-below-67k-span">Bitcoin ETFs record $486M inflow as price slides below $67K</h3> 
Bitcoin witnessed heavy selling pressure due to the repayments initiated by the defunct crypto exchange. BTC price dropped by almost 2% in the last 24 hours. This move has affected the crypto’s bullish run to reach $70K again. BTC trades at an average price of $66,422, as of press time. It is still up by 57% over a one-year period. 
Also read: <a href="https://www.cryptopolitan.com/bitwise-10-of-its-spot-ether-etf-profit-devs/">Bitwise will donate 10% of its spot Ether ETF profits to dev</a> 
Data provided by Coinglass depicts that around $3 million worth of long and short positions set on BTC’s price got liquidated in the last 24 hours. Over $2.43 million (80.99%) of the position liquidated turned out to be long bets, suggesting that the bulls were hoping for a positive run but Bitcoin failed to do so. 
Spot Bitcoin ETFs maintained their net inflow streak, extending it to 12 consecutive days. ETFs cumulatively recorded a total net inflow of $486 million on July 22, 2024. BlackRock’s iShares Bitcoin Trust (IBIT) registered a single-day net inflow of $526.7 million while Fidelity ETF FBTC saw a net inflow of $23.72 million. 
The day before, iShares Bitcoin Trust recorded an inflow of $526.7 million. It was recorded to be the highest single-day tally since March. BlackRock’s IBIT alone has seen an inflow of $19.5 billion since its inception.

Bitcoin falls to $66K as Mt. Gox moves 47,500 BTC

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