Mt. Gox Moves Over 32,000 BTC to New Wallet Addresses in Preparation for Future Sales, Bitcoin Prices Drop

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Cointime2024/11/05 03:44

By:Cointime

Defunct cryptocurrency exchange Mt. Gox has transferred over 32,000 BTC, worth $2.2 billion, to new wallet addresses in preparation for future sales. This has had an impact on market volatility, as the ongoing repayment plan has been extended to October 2025. Bitcoin prices dropped on Tuesday following the large transfer, with traders anticipating further market volatility ahead of the US elections. BTC slid below $68,000, losing 2% in the past 24 hours, and traders are predicting price swings of up to $8,000.

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- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14