Key Highlights:

• Mt. Gox transferred over 24,000 BTC (valued at $2.47 billion) to an unknown address just minutes after Bitcoin crossed $100K.
• The move sparks fears of a potential sell-off, with Mt. Gox still holding 39,878 BTC worth $4.1 billion.

Paradisers! Is Mt. Gox about to crash Bitcoin’s over $100K party? In a move that has the crypto world holding its breath, the infamous defunct exchange transferred a staggering 24,051 BTC to a mysterious wallet address beginning with “1N7j.” The transaction, worth a jaw-dropping $2.47 billion, took place just as Bitcoin breached the psychological $100K milestone.

A Timed Move or a Coincidence?

According to MCP Onchain Insider, Mt. Gox’s assets sprang to life after lying dormant since November 12. The transfer occurred on December 5 at 02:45 (UTC), barely 12 minutes after Bitcoin hit $100,000 and shortly before it peaked at $104,000 on Coinbase.

While the reasons behind this colossal transfer remain shrouded in mystery, the timing has raised eyebrows across the crypto community. Could Mt. Gox creditors finally be cashing in, or is this just another chapter in the exchange’s long saga of surprises?

Market Fears: Is a Sell-Off Looming?

Large-scale Bitcoin movements like this often send shockwaves through the market, fueling concerns of an impending sell-off. If these funds flood exchanges, it could drive prices down, undermining Bitcoin’s historic rally.

Adding to the tension, Mt. Gox still holds 39,878 BTC, valued at roughly $4.1 billion. That’s a massive stash with the potential to wreak havoc if unloaded at once.

What’s Next for Bitcoin?

While Bitcoin enthusiasts celebrate the long-awaited $100K breakthrough, Mt. Gox’s sudden activity casts a shadow of uncertainty. If these movements turn out to be creditor repayments or sales, the market could face turbulence. However, without clarity on the intent behind this transfer, traders are left guessing whether this is a ripple in the pond or the start of a tidal wave.