Mount Goks, The Defunk Crypto Exchange, has shifted 11,833.6 bitcoins, approximately $ 931 million, at the new address, increasing the possibility of potential sales-off.
On-chain according to data From Arakham Intelligence, Bitcoin Transfer, which took place on March 11, was transferred to an unknown wallet to 11,501.58 bitcoin (BTC) (~ $ 905 million), while 332 BTC (~ ~ $ 26.1 million) was transferred to a warm wallet.
It follows a string of recent functions by Mount Goks, such as transfer of more than $ 1 billion in bitcoin in a wallet with the name “1mo1n” on 6 March. Mount Goks still holds around 35,915 bitcoins, priced at $ 2.85 billion.
Historically, concerns about potential sales caused market reactions to transactions associated with Mount Goks, even though the effect of such transactions has decreased over years.
While today’s transfer has not had immediate effect on the price of bitcoin, traders remain alert. Potential creditor repayment in the market resulted in the threat of increase in sales pressure.
Mount Gox is undergoing a long bankruptcy process after losing more than 800,000 bitcoins in his 2014 fall. Many creditors are still waiting for payment in BTC, even though some have already received cash payments. Last year, the repayment deadline was extended to 31 October 2025, delaying the incidence of possible liquidation.
Meanwhile, bitcoin retail has become recession, with traders reacting to its seven -week decline. According to the market of March 11, there has been an increase in social media discussion of expectations of low bitcoin value. Analysis With satisfaction, and it is often a sign of capitalizing small investors.
However, the century notes that the recovery of the market has occurred before such emotion changes in the past. Bitcoin is currently 4% below the last 24 hours, trading at $ 79,000.
According to Bitmex co-founder Arthur Hayes 11 March Post On X, bitcoin can be near $ 70,000, which will suit the previous bull market retracement. Hayes suggested that the central bank action combined with additional decline in the stock index may affect the next important step of bitcoin.
