- Mt. Gox, the long-defunct exchange, moved 12,000 BTC ($1B), sparking speculation of creditor payouts or strategic repositioning.
- Bitcoin hovered around $91K, while Ethereum rebounded 4.5%, showing resilience despite the massive transfer.
- Optimism builds as President Trump’s Bitcoin reserve strategy looms, keeping traders on edge.
The cryptocurrency world was jolted awake in the early hours of Thursday as the long-dormant Mt. Gox exchange shifted 12,000 Bitcoin (BTC), valued at over $1 billion, from its wallet.
The move, flagged by blockchain sleuths Arkham Intelligence on X at around 7:00 p.m. Eastern Time (ET), sent ripples through a market already on edge, amplifying speculation and price jitters.
Bitcoin and Ethereum Price Remain Steady Despite Mt. Gox Transfer
Bitcoin, the bellwether of the crypto sphere, has been dancing around the $91,000 mark this week, and the Mt. Gox transfer, tied to the exchange’s decade-long bankruptcy saga, may have kept traders on their toes overnight.
While exact price movements in the last 12 hours remain fluid, market participants remained optimistic as BTC held steady or wobbled slightly, with the enormous $1 billion shadow looming. Analysts say this could signal payouts to creditors or a strategic shuffle, but the timing, amidst a volatile recovery, is suspicious.
Ethereum clawed up 4.5% toward $2,293 after dipping below $2,000 on Wednesday, reflecting a cautious rebound. Altcoins like Solana, hovering near $150, likely mirrored this quiet consolidation, though no seismic shifts emerged in the immediate window.
The global crypto market cap, pegged at $3.108 trillion today with a 2.6% uptick, saw trading volumes dip 19.73% to $138.18 billion, hinting at a breather after recent fireworks.
Optimism Increases As White House Crypto Summit Nears
Anticipation is building up for U.S. President Donald Trump’s strategic Bitcoin reserve plan, which is set for tomorrow’s White House Crypto Summit reveal. Though no fresh bombshells dropped in the last 12 hours, the policy’s echoes, linked to earlier surges in XRP, Solana, and Cardano prices, have kept sentiment simmering. “The market’s holding its breath,” one user quipped, summing up the mood.
The Mt. Gox saga remains a live wire, a relic of crypto’s wild west days. With over 36,000 BTC still in its coffers, every move is a potential market-mover.
