The defunct crypto exchange Mt. Gox has once again captured market attention after a substantial $49.3 million Bitcoin transfer.
Major Transactions by Mt. Gox
Today, December 23, 2024, blockchain intelligence firm Arkham reported on X that Mt. Gox moved $49.3 million worth of Bitcoin. The BTC was distributed across various wallets, with $19 million transferred to two new wallets and $30.6 million to the final wallet, 1Mvm. This marks the second such transfer by Mt. Gox in December 2024.
Current Price Momentum
Overall market sentiment appears to be struggling. Bitcoin is trading near $95,770 and has seen a price decline of over 1.35% in the past 24 hours. During the same period, trading volume dropped by 26%, which indicates heightened participation from traders and investors compared to the previous day.
Bitcoin Technical Analysis and Forecasts
According to technical analysis, Bitcoin is at a crucial support level of $92,000 and has been consolidating in a range between $92,000 and $98,380 for the last four trading days. If the asset closes below $92,000, it could potentially drop to the $84,000 level. However, the Relative Strength Index (RSI) suggests potential upside momentum as it is near the oversold area.
Mt. Gox's current movements exert pressure on the market and could influence further Bitcoin price dynamics. Traders closely monitor the situation to assess future actions.
