Mt. Gox Moves Over $2 Billion in Bitcoin, BTC Price Remains Steady

Mt. Gox has begun moving Bitcoin once again after almost a week of inactivity. According to the data from Arkham, the exchange has moved 33,964 BTC to an unknown wallet, “bc1q26.”
As per the current market price, the value of the moved Bitcoin stands at around $2.2 billion.
Key points:
- Mt. Gox moves 33,964 Bitcoin to an unknown wallet address.
- The value of the moved Bitcoin is around $2.2 billion.
- BTC remains steady at around $66,000 despite the movement.

Also read: SEC Charges BitClout Founder with $257 Million Crypto Fraud
Bitcoin remains steady despite the large Mt. Gox movement
The recent movement comes after Mt. Gox moved billions in Bitcoin to exchanges like Kraken, Bitbank, Bitstamp and SBI VC Trade.
Arkham data also shows that the Mt. Gox wallet currently holds 80,128 BTC. The value of the current holdings is around $5.3 billion.
While Bitcoin has fluctuated in the past when Mt. Gox moved billions in BTC, there has been a minimal reaction lately.
This could likely be because the FUD surrounding the sell-off could have settled now. However, there could be mild sell pressure from some creditors, depending on their decision on what they plan to do with their BTC.
Also read: Ethereum Remains Most Targeted Chain as Crypto Hackers Steal $572M in Q2
This week began positively for Bitcoin as the coin touched $70,000 on Monday. However, the surge was short-lived, as the coin was quick enough to fall to the $68,000 level.
According to the latest data, Bitcoin is now hovering around the $66,000 level, down 10% from its all time high of $73,750.