Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/mt-gox-moves-bitcoin-causing-market-fluctuations/" data-wpel-link="internal">Mt. Gox Moves Bitcoin, Causing Market Fluctuations</a><br></p>
<p>The past 3 weeks have been a period of significant declines for <a href="https://en.coin-turk.com/understanding-bitcoins-current-price-dynamics/" data-wpel-link="internal">Bitcoin</a>. <strong>BTC</strong> price was trading at $70,000 but dropped to $58,500 after the FED’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> decision. Although it revisited $63,000 twice, everything reversed today with a historic move from Mt. Gox.</p> 
<h2 id="mt-gox-moves-bitcoin">Mt. Gox Moves Bitcoin</h2> 
<p>A <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> article from the past weeks had a bombshell effect. It was reported that Mt. Gox would start paying creditors. The date for this process was set for the first week of July.</p> 
<p>Approximately $9 billion worth of crypto was to be distributed, causing significant uncertainty in the market. Thousands of BTC that had not been transacted for years were moved, leading to a major development.</p> 
<p><strong>Mt. Gox</strong> moved exactly 47,000 BTC to another wallet. This transaction drew all eyes to the market, which was not looking good.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-368151" src="https://coin-turk.com/wp-content/uploads/2024/07/mt-gox-coin-turk-com.png" alt="" width="627" height="283"></p> 
<h2 id="what-is-bitcoin-s-price">What is Bitcoin’s Price?</h2> 
<p>Bitcoin’s price dropped again after the news. As of the time of writing, BTC price fell below $57,000 after a 5.33% drop in the last 24 hours. The price had also fallen below $57,000 the previous day but had recovered afterward.</p> 
<p>Additionally, the market cap took a significant hit, dropping to $1.124 trillion. There was also a notable change in the 24-hour trading volume. Bitcoin’s trading volume increased by 42% during this period, exceeding $42 billion. This high volume during the day could be due to investors selling quickly to minimize losses.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/mt-gox-moves-bitcoin-causing-market-fluctuations/" data-wpel-link="internal">Mt. Gox Moves Bitcoin, Causing Market Fluctuations</a></h5>

Mt. Gox Moves Bitcoin, Causing Market Fluctuations

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