Bitcoin Market Rattled by Large Mt. Gox Transfers Totaling $1 Billion

• Mt. Gox’s Bitcoin transfer sparks market fears, leading to panic selling.  
• Trump’s recession fears and tariff comments add pressure on crypto markets.  
• Bitcoin diverges from altcoins as a hedge against economic instability.

The cryptocurrency market took a sharp downturn this week. The move appears linked partly to large Bitcoin transfers emerging from wallets associated with the defunct Mt. Gox exchange, combined with rising concerns about a possible US recession. 

These factors reportedly contributed to increased selling pressure among some traders and investors.

Why Are Mt. Gox Bitcoin Transfers Spooking the Market?

Blockchain analytics firm Arkham Intelligence flagged significant Bitcoin movements related to Mt. Gox holdings on March 25. 

Tracked on-chain transactions showed approximately 893 BTC (valued around $78 million at the time) moved to a known cold wallet associated with the estate. Additionally, a much larger sum of about 10,608 BTC (worth roughly $929 million) was sent internally to a Mt. Gox ‘change wallet’. 

This marked the third such large transfer within a month from wallets tied to the long-collapsed exchange, further raising…

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