The bankrupt exchange Mt. Gox has started moving bitcoins again. According to the latest update from Arkham Intelligence, 12,000 BTC were transferred on March 6.
Mt. Gox Bitcoin Movements
On March 6, 12,000 BTC were moved from the Mt. Gox wallet (1PuQB), with a transaction fee of just $1.64. At the same time, 166.5 BTC were sent to Mt. Gox’s cold wallet (1Jbez), with the remaining bitcoins moved to an unknown wallet (1Mo1n), now holding 11,834 BTC. Mt. Gox-linked accounts now hold 36,080 BTC worth $3.26 billion, according to Arkham data.
Historical Bitcoin Transfers
This is the first major Bitcoin movement from Mt. Gox wallets in a month. The last movement involved just 4 BTC between cold wallets. In December, Mt. Gox moved about 1,620 BTC through unknown wallets, shortly after transferring over 24,000 BTC.
Impact on Bitcoin Market
The Bitcoin moves happened during a week of market ups and downs, caused by new trade tariffs from U.S. President Donald Trump, which began on March 4. These tariffs shook high-risk assets like crypto. Bitcoin's price fluctuated significantly, reaching a high of $94,770 on March 3, dropping to $82,681 on March 4, and recovering to over $90,000 by March 5.
The recent Bitcoin movements by Mt. Gox take place amidst fluctuations in the cryptocurrency market and may draw attention from traders and investors once more.
