FOMC

Bitcoin

Arkham

Million

Arthur

<ul> 
 <li aria-level="1">Mt. Gox transferred 11,501 BTC ($905M) to an unmasked wallet after Bitcoin fell below $77,000, per Arkham Intelligence data.</li> 
 <li aria-level="1">The entity still holds 35,915 BTC ($2.8B), having moved $1B to a “1Mo1n” wallet last week before obscuring it.</li> 
</ul> 
The defunct cryptocurrency exchange Mt. Gox transferred 11,501 Bitcoin (BTC), valued at approximately $905 million, to an unmasked digital asset address on March 18, per Arkham Intelligence data. 
This <a href="https://intel.arkm.com/explorer/tx/3030935450dc74e763257fbd2b67b725a93acfc56e5f0ce89caa70f070ee7970">transaction</a> followed a test transfer of 20 BTC to custodial platform BitGo on March 15. The movement occurred as Bitcoin’s spot price dipped below $77,000, extending a downward trend observed since early March. 
<figure id="attachment_173098" aria-describedby="caption-attachment-173098" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-173098" src="https://www.ethnews.com/wp-content/uploads/2025/03/arkam.webp" alt="" width="1884" height="946">
 <figcaption id="caption-attachment-173098" class="wp-caption-text">
 Source: Arkham
 </figcaption>
</figure> 
Mt. Gox retains ownership of 35,915 BTC, currently valued at $2.8 billion based on CoinGecko’s market data. Last week, the entity relocated over $1 billion in BTC to a wallet prefixed “1Mo1n,” later obscured through privacy protocols. On March 18, this wallet redistributed $931 million in BTC, allocating $905 million to an unknown address and the remainder to its operational hot wallet. 
Bitcoin’s <a href="https://www.ethnews.com/crypto-analyst-warns-below-79k-means-bitcoins-next-move-could-be-50k-or-128k-pick-a-side/">price decline</a> has prompted mixed technical analyses. Arthur Hayes, co-founder of derivatives exchange BitMEX, projected a potential rebound to $78,000 but warned of heightened volatility if this resistance level fails. Hayes noted elevated open interest in BTC options contracts clustered between $70,000 and $75,000, suggesting downside risk if bearish momentum intensifies. 
Ryan Lee, head of research at Bitget, outlined a dual scenario: a breakdown below $77,000 could test support at $70,000–$72,000, while a recovery might push prices toward $80,000–$85,000. Lee emphasized macroeconomic variables, including Federal Reserve policy decisions and regulatory developments, as pivotal to Bitcoin’s near-term price action. 
<blockquote>
 “The most likely scenario for this week suggests a mid-week test of $72,000-$75,000, with Bitcoin stabilizing near $83,000 by March 18-19, depending on general market sentiment, external factors such as regulatory news and the upcoming FOMC meeting,” Lee said in a statement on Monday.
</blockquote> 
Traders continue to track Mt. Gox’s <a href="https://www.ethnews.com/mt-gox-transfers-2-4-billion-in-bitcoin-following-btcs-100k-milestone/">wallet activity</a> due to its historical influence on Bitcoin liquidity. The exchange’s remaining holdings represent roughly 1.8% of BTC’s circulating supply, amplifying scrutiny over potential future distributions. 
ETHNews analysts <a href="https://www.ethnews.com/bitcoin-price-analysis-macro-headwinds-delay-potential-break-above-109k-all-time-high/">caution</a> that external factors, such as institutional demand and macroeconomic trends, will likely dictate market direction ahead of key events like the Federal Open Market Committee meeting in mid-March. 
The post <a href="https://www.ethnews.com/mt-gox-executes-905-million-bitcoin-transfer-amid-market-correction/">Mt. Gox Executes $905 Million Bitcoin Transfer Amid Market Correction</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Mt. Gox Executes $905 Million Bitcoin Transfer Amid Market Correction

ETHNews

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