Via The Block:

  • Collapsed cryptocurrency exchange Mt Gox moved over 47,000 BTC -6.22% to another wallet late evening on Thursday
  • comes ahead of its impending $9 billion worth of bitcoin repayment to creditors, “This significant payout, amounting to US$9 billion, is expected to add substantial selling pressure as the market absorbs the additional supply,”

CoinDesk adds:

  • the German Federal Criminal Police Office moved over $75 million to crypto exchanges
  • “Among the top reasons for the price drop was the German government moving more than $50 million to crypto exchanges, creating sell speculation in the market”
gox german cops 05 July 2024 btc 2