Cryptocurrency market is under pressure! Kraken releases $3 billion in Bitcoin to Mt. Gox creditors

This site (120Btc.coM): The negative impact of the bankrupt exchange Mt.Gox’s compensation continues to ferment. After Bitstamp received a huge Bitcoin transfer from Mt.Gox, Kraken has also successively distributed Bitcoins to creditors. The market Cryptocurrency markets are again under pressure amid concerns that creditors will sell to cash out after receiving compensation.

Kraken CEO Dave Ripley issued a statement this morning (24th) stating that the exchange has "successfully" distributed Bitcoin and Bitcoin Cash to Mt. Gox creditors. Although the specific amount was not mentioned, Kraken had previously distributed Bitcoin and Bitcoin Cash from Mt. The .Gox wallet received 48,641 Bitcoins worth over $3 billion.

According to data tracked by Arkham Intelligence, Mt. Gox also sent Bitcoin worth more than $150 million to Bitstamp yesterday (23rd).

Mt.Gox began to repay 142,000 Bitcoins and 143,000 Bitcoin Cash to creditors through several exchanges at the beginning of this month. Although some industry experts said that "Mt.Gox's launch of compensation will not derail the bull market," investors We still regard this matter as negative, and are worried that a new wave of selling pressure will emerge, which will have a significant impact on the market.

As of writing, Mt. Gox still holds 90,344 Bitcoins, worth approximately US$6 billion. People in the currency circle generally believe that because creditors lost all their cryptocurrencies about 10 years ago, the price of Bitcoin surged during this period. Now that they have finally got these assets back, they may sell them on the market to cash out. Put downward pressure on currency prices.

According to CoinGecko market data, Bitcoin has successively fallen below the two integer levels of US$67,000 and US$660 million since last night. It is currently hovering around US$65,800, down 3% in the past 24 hours; while Bitcoin, which is also a compensation asset for Mt.Gox, BCH (BCH) fell about 6% to $366.

Other cryptocurrencies fell simultaneously, with major altcoins Solana (SOL), Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) falling between 2% and 6%.

Benefiting from the strong trading volume of the Ethereum spot ETF on its first day of listing in the United States, Ethereum fell slightly today and is still above US$3,400, with a single-day decline of approximately 1%.

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