Mt. Gox Transfers Billions in Bitcoin, Raising Market Concerns

Movement of over 140,000 BTC triggers fears of a sell-off, affecting cryptocurrency prices

Bitcoin dropped below $68,000 following the transfer of $9 billion worth of BTC from Mt. Gox wallets.
The defunct exchange is preparing to repay creditors by the October 31 deadline, moving assets for the first time in five years.
Market analysts are divided on the potential impact, with some predicting minimal selling pressure from creditors.
Former CEO Mark Karpelès reassured that no immediate sale of Bitcoin is planned, calming some market fears.
The transfer also included Bitcoin Cash, which might face different market reactions compared to Bitcoin.