This follows Mt. Gox’s previous transfer of $2 billion in Bitcoin to BitGo as part of creditor payments.
Yesterday, the Mt. Gox wallet was responsible for the transfer of an astounding $2 billion worth of Bitcoins. Today, the cryptocurrency exchange OKX witnessed a transaction that was quite similar to the one earlier today.
Mt.Gox Moves $2B In Bitcoin
The on-chain data indicates that a Mt. Gox address has transferred a total of 33,100 Bitcoins over the course of the past twenty-four hours. Investors are on the edge of their seats as a result of this new event, which suggests that another Bitcoin sell-off is imminent.
$2 Billion in Bitcoins Move to OKX
A new address beginning with bc1qpn…7k53 has received a total of 33.1 thousand Bitcoins, valued at an astounding $2 billion, according to the most recent report from PeckShield Alert.
Furthermore, over the past twenty-four hours, the Mt. Gox address has sent a total of 117 bitcoins worth seven million dollars to the cryptocurrency exchange OKX.
This new development takes place one day after Mt. Gox delivered two billion dollars’ worth of Bitcoins to the cryptocurrency exchange BitGo, in accordance with the final creditors’ payment in Bitcoin and Bitcoin Cash.
Mt. Gox has made significant progress with the latest cash distribution having completed over 70% of the process. Mt. Gox has distributed Bitcoin worth over $3.2 billion to 17,000 debtors as payment.
Despite this, investors should closely monitor the price of Bitcoin, as it continues to fluctuate in tandem with the movements of Mt. Gox. Recently, there has been a rise in activity among Bitcoin holdings that have been dormant for a long time which has caused market volatility.
The movement of these Bitcoins that have been dormant for a long time typically results in an increase in the amount of selling pressure in the market, as reported by CryptoQuant.
All Eyes on the US CPI Inflation Data
With the statistics on the consumer price index (CPI) in the United States exhibiting symptoms of a slowdown, all eyes are currently focused on the release of the consumer price index (CPI) data for the month of July.
Because of this, the market has seen a significant surge recently, with Bitcoin and other cryptocurrencies experiencing a rally over the past two days.
Additionally, the demand for digital assets among institutions has increased dramatically as a result of the resumption of inflows into spot Ethereum ETFs and spot Bitcoin ETFs.
During the second quarter of the year, the financial services major Goldman Sachs increased its exposure to spot Bitcoin exchange-traded funds by more than $400 million, as stated in the most recent report.
At the moment, the price of Bitcoin is trading close to $61,000, while the USDT and USDC stablecoins are contributing $2.5 billion to the increasing liquidity of the cryptocurrency market.
