Key takeout
- Mt. Gox transferred 11,501 Bitcoins worth approximately $955 million to an unmasked wallet after a test transfer to Bitgo.
- Mt. Gox holds over 35,915 Bitcoin, worth around $2.8 billion at its current market price.
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According to data from Arkham Intelligent, Gox Mt. Gox, a currently deprecated crypto exchange, has transferred approximately $955 million worth of 11,501 Bitcoins to an unmasked address in the past hour.
These transfers came after Gox Mountain moved over $1 billion in Bitcoin to a new wallet last week, starting with “1MO1N.”
The wallet was later masked as the Entity's new wallet, moving $931 million in Bitcoin today, with about $955 million in unidentified wallets and the rest moving to the Entity's warm wallets.
Mt. Gox holds ownership of over 35,915 Bitcoin, currently valued at around $2.8 billion at market prices.
The move comes after a sharp decline in Bitcoin, with prices below $77,000 and deepening its fix after a weak start to the week for every coin gecco.
Bitmex co-founder Arthur Hayes expects a retest potential of $78,000. “When you get into that range, it becomes violent,” Hayes said. If the $78,000 level is not held, he suggests that $75,000 could be his next goal.
According to Ryan Lee, chief analyst at Bitget Research, if Bitcoin can't maintain its $77,000 support level, it can test the low range from $70,000 to $72,000. Conversely, the recovery could potentially see bounces starting at $75,000, bringing the price back to the $80,000-85,000 range.
“This week's most likely scenario suggests weekday testing of between $72,000 and $75,000, with Bitcoin still steady at nearly $83,000 by March 18-19.
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