Mt. Gox has another large repayment: transferring 930 million US dollars of BTC, how much potential BTC selling pressure remains?

On-chain data shows that the Mt. Gox exchange appeared to have new on-chain operations yesterday (11th). The exchangeWalletAddress transferred 11,834 BTC to another Address, worth about 9.3 billion US dollars. This is believed to possibly indicate the exchange initiating a new round of repayments. Will the market face immense selling pressure? (Previous context: Mt. Gox transferred 32,000 BTC, anticipating a new wave of dumping before the U.S. presidential election?) (Background: Good news - Mt. Gox extends repayment deadline to October next year. How much potential BTC selling pressure remains?) Once the world's largest BTC exchange, Mt. Gox, after several years of bankruptcy litigation and multiple delays, officially began compensation last July, with 142,000 BTC and 143,000 BCH being most followed by the market in the compensation assets. Mt. Gox exchange originally planned to complete all repayments by October last year. However, on October 10th last year, the exchange announced that, with court permission, the repayment deadline was extended from October 31, 2024 to October 31, 2025 (Japan time) to reasonably compensate the bankruptcy creditors. Mt. Gox has a large transfer again. On the 11th, on-chain data shows that the Mt. Gox exchange had new on-chain operations, with the exchangeWalletAddress transferring 11,834 BTC to another Address, worth about 9.3 billion US dollars. Analysts pointed out that the exchange conducted an internal asset adjustment of about 1 billion US dollars last week, while also transferring 15 million US dollars in BTC to its Cryptocurrency custody service partner BitGo. The asset transfer yesterday seems to be preparing for a new round of repayments. Note: The current Wallet balance still has 35,915 BTC. Mt. Gox exchange on-chain operation records show that the current Wallet balance still has 35,915 BTC. Source: Arkham BTC Will the BTC selling pressure surge again? We know that since last month, due to the uncertainty added to the U.S. economy by the Trump administration, the Cryptocurrency market has been continuously declining, with BTC dropping below $77,000 at one point yesterday and currently fluctuating around $83,000. If the Mt. Gox BTC transfer is confirmed to initiate a new round of repayments to creditors, it is inevitable that the market will worry about whether this will bring even heavier selling pressure to the already weak Cryptocurrency market. BTC trend after the last large repayment Looking back at the large repayment by Mt. Gox in mid-July last year, BTC fluctuated between $63,000 and $69,000, until a larger drop in the market occurred in August due to the yen's interest. However, the repayment amount by Mt. Gox at that time was larger, nearly 50,000 BTC, while this repayment may be lower than before. With BTC already having pulled back significantly, there may not be as many creditors immediately dumping upon receiving BTC. Therefore, some people believe that the selling pressure brought by this repayment to the market may not be too heavy. However, we would like to remind investors that once Mt. Gox initiates a new round of repayments, the market may also experience fluctuations in the short term, and investors still need to remain cautious. Related reports BTC falls below $63,000 - don't forget that Mt. Gox's dumping will continue until October, with 45,000 BTC remaining in the Wallet. Lost 850,000 BTC - former Mt. Gox CEO will launch new exchange EllipX: special discounts for old customers. BTC Long Wick Candle at 58,500 - Mt. Gox transfers another 12,000 BTC, U.S. stocks close black, waiting for Fed meeting minutes. Mt. Gox has another large repayment - transferring 9.3 billion US dollars in BTC, how much potential BTC selling pressure remains? This article was first published by BlockTempo of the dynamic area, the most influential blockchain news media.