Bitcoin

<p>Recently, Mt. Gox transferred nearly $10 billion worth of bitcoins, causing panic among crypto enthusiasts. However, experts are tempering the situation: the funds remain in the wallets of the fallen exchange. And if these bitcoins were to be released, Bitcoin ETFs, always hungry, are ready to absorb them.</p> 
<h2 id="h-mt-gox-the-dance-of-billions-of-bitcoins-without-free-fall">Mt. Gox: the dance of billions of bitcoins without free fall</h2> 
<p>In the crypto universe, where roller coasters are the norm, Mt. Gox recently added <a href="https://www.cointribune.com/en/bitcoin-the-old-sea-serpent-mt-gox-resurfaces/" target="_blank" rel="noreferrer noopener">a new loop of fear</a>. On May 28, the bankrupt crypto exchange <strong>transferred bitcoins worth $9.6 billion</strong> from its “cold wallet,” a move that briefly shook the markets. But before investors could rush to the panic button, <strong><a href="https://cryptoquant.com/community/dashboard/665732242295b967a33dd9e4?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=dashboard&amp;utm_content=weekly-crypto-report" target="_blank" rel="noreferrer noopener">CryptoQuant’s onchain analysts</a> reassured everyone</strong>.</p>
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<p>According to these keen observers of blockchain transactions, there is no need to panic. The billions in bitcoins were not dumped on the crypto market but simply <strong>transferred between different addresses controlled by the Mt. Gox Rehabilitation Trustee</strong>. In other words, creditors have not yet seen their repayments.</p> 
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<p>For those not following, Mt. Gox, once the giant of bitcoin exchanges, <strong>collapsed in 2014</strong>, leaving thousands of users stranded. Since then, <a href="https://www.cointribune.com/en/crypto-10-years-later-mt-gox-finally-repays-its-creditors/" target="_blank" rel="noreferrer noopener">the saga of repayments has dragged on</a>, with fund movements scrutinized by the crypto community.</p> 
<p>The $9.6 billion worth of bitcoins were first <strong>moved to a new unique address</strong>, then distributed to three distinct addresses, each containing 47,300 BTC. But rest assured, these precious bitcoins remain under the control of Mt. Gox’s “Rehabilitation Trustee”.</p>  
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<p>In a statement released the same day, the administrator confirmed that <strong>no repayments had been made nor any assets sold</strong>. So, despite the initial excitement, there is no crash in sight for bitcoin.</p> 
<p>Just another busy day in the tumultuous world of cryptocurrencies.</p> 
<h2 id="h-optimists-bet-on-the-market-s-resilience">Optimists bet on the market’s resilience</h2> 
<p>Despite the fears, some see a bright future for cryptos. The market, they say, can absorb waves of selling without flinching. The <a href="https://twitter.com/Killianz88/status/1795455565813952516" target="_blank" rel="noreferrer noopener">enigmatic Killianz88</a>, a seasoned crypto trader, trumpets on X:</p> 
<p>“<em>The holders of these bitcoins, bought for less than $200, will sell at least 75% of their coins</em>.”</p> 
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<p>However, he quickly tempers this prediction by highlighting that <strong><a href="https://www.cointribune.com/en/bitcoin-etfs-now-hold-more-than-one-million-btc-worldwide/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a>, seeking 4,000 coins each day</strong>, are ready to absorb these Mt. Gox bitcoins as soon as they enter circulation.</p>
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<p>Crypto enthusiasts can therefore remain calm, the market is ready to digest these billions without indigestion.</p>

Bitcoin: Mt. Gox movements will not affect the price!

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