Bitcoin

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<ul class="wp-block-list">
 <li>Mt. Gox has shifted $2.4 billion worth of Bitcoin between wallets.</li>
 <li>BTC hits $82K, reflecting a 3.33% increase.</li>
</ul>
The defunct exchange, Mt. Gox executes a transfer of $2.4 billion in Bitcoin (BTC) across wallets. This marks another key chapter in the ongoing process of creditor repayment efforts, with the deadline set for October 2025.
Mt. Gox executed a massive transfer by moving over 30,000 BTC, valued at around $2.4 billion to two different wallets. The majority of the funds were transferred from the wallet “1FG2C…Rveoy” to a newly created wallet, “1Fhod…LFRT.” In addition, $200 million worth of <a href="https://intel.arkm.com/explorer/tx/69a6debd1137628162652c1a48c00be3cd6c94d5934b28ca0c2dcf13e3b22858" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> was sent to cold storage.&nbsp;
This labels the massive movement of Bitcoin from the Mt. Gox wallet in recent weeks, with the “1FG2C…Rveoy” address being the largest recipient in the previous series of transfers.&nbsp;
The Mt. Gox wallet <a href="https://x.com/lookonchain/status/1853610472874160370" target="_blank" rel="noopener noreferrer nofollow">moved</a> 32,371 Bitcoin, valued at around $2.19 billion, to three new wallets, on November 5. That was under the ongoing process of settling creditor claims. The <a href="https://thenewscrypto.com/mt-gox-poses-obstacles-for-btc-bull-run-with-second-activity/" target="_blank" rel="noopener noreferrer nofollow">movement</a> of such a large amount of Bitcoin has drawn attention as it potentially impacts the market.&nbsp;
<h3 class="wp-block-heading" id="h-the-backstory-of-mt-gox">The Backstory of Mt.Gox</h3>
The exchange once had over 70% of all Bitcoin transactions, and Mt. Gox was the prominent player in the early years of the cryptocurrency market. Notably, in 2014, the exchange collapsed following a massive hack, where an estimated 740,000 BTC were stolen, worth over $15 billion at current prices. Following its bankruptcy settlement plan, Mt. Gox has recently begun working to repay creditors affected by the hack.&nbsp;
<h3 class="wp-block-heading" id="h-price-momentum-of-bitcoin">Price Momentum of Bitcoin&nbsp;</h3>
The BTC transfer comes with <a href="https://thenewscrypto.com/bitcoin-hits-81k-for-the-first-time-as-bulls-lead-crypto-rally/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> continuing to break records, recently surpassing $82K, hitting a new all-time high at $82,371. At press time, the largest cryptocurrency trades at $82,310, gaining over 3.33% over the last 24 hours. Notably, the market cap of BTC has settled at $1.63 trillion.&nbsp;
In the morning hours, the asset visited the $78,537 mark and the bullish momentum pushed BTC to the current price levels. If the current momentum holds, the asset will encounter its nearby resistance at $83K.&nbsp;
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Mt. Gox Moves $2.4B in Bitcoin While BTC Breaks $82K

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