• Mt. Gox has shown Bitcoin movements a few hours ago after its recent November 1 activity.
• Bitcoin price has slid down to the $68K level following the movement.

External factors’ influences have not been novel to the crypto market since the beginning. As the US elections begin in the next few hours, community members wait with bated breath for the outcomes. Meanwhile, amid these tensions, previously bankrupt crypto exchange Mt. Gox showed a new activity approximately 6 hours ago.

Notably, the crypto exchange advanced with several announcements a few months ago, in July and August. Its movements, coinciding with the German government’s Bitcoin sellings, caused huge effects on the Bitcoin price at the moment. Presently, Mt. Gox has resurfaced after almost two months of dormancy.

According to Arkham Intelligence data, Mt. Gox transferred 32,371 BTC tokens from its cold wallet to another anonymous wallet – “1FG2C” 6 hours ago. Following this, it also moved 2K BTC to another wallet with the address “15gNR”. Previously, its last activity occurred on November 1, when the exchange transferred 1026.95 BTC tokens to other addresses.

The crypto exchange has been moving huge amounts of Bitcoin to pay its creditors in the past few months. Additionally, Mt. Gox also initiated payments for its creditors, which is still underway. Mt. Gox repayments were one of the crucial market events in Q2 2024.

Bitcoin Price Overview Post Recent Mt. Gox Movement

Having been influenced by Mt. Gox movements, Bitcoin slid down to the $68K level after its recent descent to $69K. The previous downward movement occurred after Mt. Gox’s November 1 activity. In the last 24 hours, BTC has factored in a 0.54% and is currently trading at $68.4 levels. At the time of writing, Bitcoin was trading at $68,478 as per CMC data.

During October, the cryptocurrency reached levels closer to its ATH at $73,500. Additionally, it had managed to stay above the $70K mark until the recent crypto exchange’s activity. Thus the crypto exchange’s activity can be construed as greatly influencing Bitcoin’s bearish movements.

Finally, Mt. Gox has not made any recent official announcements regarding creditors’ repayments. This has led to increased uncertainty about its future movements. However, the exchange’s former CEO announced plans for a new crypto exchange platform in September.

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