Bitcoin maintains bullish momentum despite uncertainties surrounding defunct exchange Mt. Gox’s recent 1,620 BTC ($172.5 million) shuffle today.
Large crypto movements from defunct exchanges and governments usually spark fear, uncertainties, and doubt (FUD) in the market. Historical trends have confirmed this analogy, as seen when Mt. Gox and the German government moved hefty amounts of Bitcoin.
However, Bitcoin remains unperturbed today despite uncertainties from a recent shuffle. The premier asset has held above $107,000 amid a 1,620 BTC movement by defunct exchange Mt. Gox on Tuesday.
Mt. Gox Moves $172.5M Worth of Bitcoin
Data from the on-chain tracker Arkham shows that Mt. Gox moved 1,620 BTC to two new addresses on Tuesday by 02:19 (UTC). The defunct exchange transferred 191.67 BTC ($20.4 million) to address “bc1q6f” and 1,4278 BTC ($152.11 million) to “13JrY5.”
Meanwhile, the address that received 1,4278 BTC has moved the funds further, shuffling 1,320 BTC ($140.5 million) to another untagged address, “1DeYFX.” The “13JrY5” wallet also moved the other 108 BTC ($11.5 million) through multiple addresses to “1KLrcs.”
At the time of writing, the funds remain intact, indicating that the move was a mere shuffle. However, the reason for the asset’s movement is still undisclosed.
Notably, Mt. Gox has repaid a large chunk of its customers, moving over $9 billion worth of Bitcoin to its exchange partners. However, a considerable amount remains, with the repayment deadline shifted to October 2025.
Bitcoin Sustains $107,000
At the time of writing, Bitcoin continues to trade at $107,000 after a 2% appreciation in the past 24 hours. The pioneering crypto asset has sustained bullish momentum after a new all-time high of $107,464 and its highest-ever daily close at $105,750 yesterday.
Notably, Bitcoin has defied bearish speculation that it will undergo a considerable correction. For instance, Rich Dad Poor Dad author Robert Kiyosaki speculated that Bitcoin might crash to $60,000 before resuming its next bullish break.
Nonetheless, the assets have more upside. Asset managers VanEck and Bitwise have predicted that Bitcoin will surge to $180,000 and $200,000, respectively, before the end of next year.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
