"Fulamak is not an ordinary transfer, will this have an effect on the price of BTC?"
Mt. Gox, which moved another large amount of Bitcoin (BTC) after transferring BTC and Bitcoin Cash (BCH) to repay creditors has signaled that the defunct cryptocurrency exchange may continue to move BTC this week.
Through observation, the wallet is linked to Mt. Gox was found to have transferred 37,477 BTC to a new unknown wallet address on July 24, 2024, where the latest BTC transfer was worth approximately $2.47 million.
Another wallet Mt. Gox that transferred $11.33 worth of BTC to the same unknown wallet has indicated that the wallet is also likely to transfer the digital asset in the next few hours.
There were also internal transfers between the crypto exchange's cold wallets, notably 5,106 BTC worth $336.61 million were transferred and the Recovery Trustee of Mt. Gox still has $5.93 billion in BTC and will probably make a big move this week.
In addition to transferring a total of 42,587 BTC worth $2.85 billion on Tuesday yesterday, there was also a series of transfers of the digital asset in the past 24 hours including the transfer of BTC to the Bitstamp wallet.
Although creditors in a Reddit poll said they are unlikely to sell their holdings in BTC, liquidations are increasing among traders following QCP Capital's report that options traders are targeting lower prices due to the launch of spot Ethereum (ETH) ETFs.
As of this writing, BTC price has plunged by 0.55% to $66,282 in the last 24 hours with a market cap of $1.3 trillion but is still up 1.85% over the last week.
