Blockchain analysts have reported renewed activity in Mt. Gox's wallets, marking the first movement in seven months and sparking fears of market instability. The defunct exchange is set to repay 34,000 Bitcoin, valued at over $3.88 billion, to creditors by October 31, 2025. Concerns are mounting that if the trustee cannot secure another delay, the release of these funds could lead to significant selling pressure.
Analyst Mignolet highlighted the potential market impact, noting that previous sales were absorbed by over-the-counter demand, but doubts remain about the market's capacity to handle such a large volume now. Additionally, the recent wallet activity mirrors pre-repayment tests, further fueling speculation about imminent fund distribution.
Mt. Gox Wallet Activity Raises Concerns Ahead of Repayment Deadline
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