Movement

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/mt-gox-transfers-30000-bitcoin-to-signal-market-movement/" data-wpel-link="internal">Mt. Gox Transfers 30,000 Bitcoin to Signal Market Movement</a> 
Mt. Gox, once one of the world’s largest <a href="https://en.coin-turk.com/major-cryptocurrency-exchange-apps-removed-from-apple-app-store-in-india/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/crypto-hedge-funds-struggle-against-bitcoin-data-analysis/" data-wpel-link="internal">cryptocurrency</a> exchanges, ceased operations following a hack in 2014 that resulted in significant losses. Recently, the exchange transferred approximately $2.4 billion worth of Bitcoin (BTC) , moving a total of 30,000 BTC to two separate wallet addresses. These transfers occurred after Bitcoin surpassed the $81,000 mark over the weekend, leading to speculation that Mt. Gox may be signaling its return to the <a href="https://en.coin-turk.com/bitcoin-price-surges-after-anticipated-data-release/" data-wpel-link="internal">cryptocurrency market</a>. 
<h2 style="text-align: justify" id="strong-bitcoin-transfers-indicate-potential-sales-strong">Bitcoin Transfers Indicate Potential Sales</h2> 
On-chain data reveals that Mt. Gox initially transferred 30,000 BTC from the wallet address “1FG2C…Rveoy” to a new address named “1Fhod…LFRT.” Additionally, the exchange reportedly moved $200 million worth of BTC to its cold wallet. This transaction marks one of the largest BTC movements within Mt. Gox’s wallet in recent weeks. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-405425" src="https://coin-turk.com/wp-content/uploads/2024/11/Mt-Gox-Bitcoin.jpeg" alt="" width="811" height="453"> 
Experts emphasize that such large-scale transfers usually indicate preparations for selling cryptocurrencies. Mt. Gox’s recent actions are seen as a consolidation step aimed at reintroducing its recovered Bitcoin assets to the market. 
<h2 style="text-align: justify" id="strong-developments-following-the-2014-hack-strong">Developments Following the 2014 Hack</h2> 
In early 2010, Mt. Gox controlled 70% of the global cryptocurrency market. However, the hack in 2014 led to the loss of approximately 740,000 BTC, valued at around $15 billion today, shocking the cryptocurrency market at that time. Since halting operations, the exchange has been involved in a prolonged asset recovery and restitution process. 
The repayment plan, managed by Mt. Gox’s trustees, is expected to continue until October 2025. During this period, the assets owed to users will be covered by the sale of the remaining BTC held by the exchange. 
The post <a href="https://en.coin-turk.com/mt-gox-transfers-30000-bitcoin-to-signal-market-movement/" data-wpel-link="internal">Mt. Gox Transfers 30,000 Bitcoin to Signal Market Movement</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Mt. Gox Transfers 30,000 Bitcoin to Signal Market Movement

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