Mt Gox Risks To Bitcoin Crash Plunges 75%: Arkham

Quick Summary:

Institutional and retail investors offloaded Bitcoin holdings on fears of a huge market crash as Mt Gox Trustee started BTC repayment in July this year.

Bitcoin crash risks due to Mt Gox repayment have now dropped to almost 75%, on-chain analytics platform Arkham Intelligence stated on Saturday.

Mt Gox has distributed nearly 109K BTC worth $6.6 billion to creditors since July, which is considered impressive as BTC price recovered above $60,000 after falling below the level many times in the last few months.

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Article Details

Author / Journalist: Varinder Singh

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Bitcoin crash Bitcoin News Bitcoin (BTC) Price Mt gox

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-24 @ 11:44:07 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 368 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22239453

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