Blockchain
Bitcoin Nears $66K as Mt. Gox Moves $130M to Bitstamp
Bitcoin (BTC) It traded around $66,000 as the Mt. Gox exchange began moving its latest tranche of assets to cryptocurrency exchange Bitstamp, which had previously led to sell-offs in the broader cryptocurrency market.
Arkham Data shows that Mt. Gox transferred over $2.85 billion in BTC to a new wallet in the early hours of Tuesday morning in Asia. It then sent over 5,000 BTC, worth $340 million at current prices, to one wallet and another 37,000 BTC, worth $2.5 billion, to another new wallet.
Around $130 million in BTC from 5,000 BTC wallet was then transferred to Bitstamp, the data shows. The move to the stock exchanges usually signals the intention to sell one’s securities.
The moves come a day after Mt. Gox transferred small amounts of BTC to Bitstamp, likely as a test transaction.
In early July, Mt. Gox began repaying creditors affected by a 2014 hack. Over $9 billion in BTC and $73 million in bitcoin cash (BCH) will be distributed to merchants in the coming months.
Bitcoin fell below $67,000 on Tuesday morning as Mt. Gox began moving assets, denting market sentiment as U.S. investors look to start trading spot ether (ETH) exchange-traded funds for the first time later in the day.