Mt. Gox Fund Transfer Affects Bitcoin Price

🟥 According to Arkham Intelligence, on August 21, the bankrupt Bitcoin exchange Mt. Gox transferred a large sum — 13,265 BTC worth around $784 million. Then, 12,000 BTC were sent to a new address, and the remaining 1,265 BTC were moved to a cold wallet associated with Mt. Gox. This is the first significant transfer of BTC by the exchange’s trustee in three weeks.

🟥 The recent movement caused some panic selling: Bitcoin dropped by 3% in the last 12 hours, falling back below $60,000. However, analysts noted that the markets remained resilient to this selling pressure.