DELL - Bitcoin Falls Below $63K Recovers Swiftly To $64K: What Is Going On? | Benzinga
Following a massive transfer of Bitcoin (CRYPTO: BTC) by the defunct exchange Mt. Gox, the world’s largest cryptocurrency briefly fell under $63,000 in Tuesday’s Asian trading session but has since rallied into the New York open.
What Happened: According to CoinDesk, an initial transfer of 0.021 BTC ($1,000) to a blockchain address was followed by a significant movement of 44,527 BTC ($2.84 billion) to an internal wallet. This activity, tracked by Arkham Intelligence, is likely connected to Mt. Gox’s repayment plan. Crypto exchange Kraken has confirmed receiving funds and plans to distribute them over the next two weeks.
Mt. Gox, once the largest bitcoin exchange, collapsed in 2014 after ...