Mt. Gox Moves as Bitcoin Prices Tumble: What Does It Mean?

Despite investor hopes for a rebound in November after the October 11 crash that sent Bitcoin (BTC) below $90,000, the decline has intensified. The cryptocurrency continues to see volatile swings, and Mt. Gox, once the dominant Bitcoin exchange, is seeing significant activity. After eight months of inactivity, Mt. Gox trustees transferred a large amount of Bitcoin for the first time in a move that’s sparking curiosity. 10,608 BTC, worth nearly $937 million, was sent to an unknown address. Arkham data reveals these transactions as likely belonging to cold wallets of the defunct exchange.