Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

2025-05-19

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

2025-05-19

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

    2025-05-19

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-19

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17
  • Analysis

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin: Could Mount Gox’s Latest Move Cause Another Price Drop?
Bitcoin

Bitcoin: Could Mount Gox’s Latest Move Cause Another Price Drop?

2024-11-05No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • Gox FUD Threatens to Lower Bitcoin Prices Despite Latest Recovery Efforts.
  • A look at the next potential Fibonacci price bottom, if BTC continues to expand its dominance.

Bitcoin [BTC] experienced six days of consecutive downside. This performance reflected the prevailing cautious sentiment following the US elections, but another FUD event could cause more downside in the coming days.

The wallet with Mount Gox Bitcoin has reportedly transferred 32,371 BTC to an unknown wallet. The value of the transferred coins was estimated at approximately $2.9 billion.

Many analysts had expected a bearish outcome when Mount Gox’s payout would eventually occur.

The bearish expectations are mainly due to the fact that the holders waiting for payment have been waiting for years and are deep in profits.

So they could be incentivized to sell, potentially causing another big price drop for Bitcoin.

Will Mount Gox FUD Add More Fuel to the Bitcoin Bears?

Currency flows have been easing since late October and have since fallen to historically relevant levels.

A pivot could be on the horizon, meaning the battle between BTC’s bulls and bears is about to intensify.

However, the chances of a strong bullish recovery are lower, especially as the Mount Gox FUD increases selling pressure previously fueled by US election concerns.

Bitcoin exchange inflows have recently slowed to 8,424 BTC in the last 24 hours, at the time of writing.

Currency outflows were significantly higher at 12,021 BTC, suggesting the wave of selling pressure was cooling, allowing for some buying at discounted prices.

BitcoinBitcoin

Source: CryptoQuant

The higher outflows in the currency markets versus inflows were reflected in the form of some recovery in the last 24 hours.

See also  'Safety net' Solana could be key to next altcoin season - Analyst

At the time of writing, BTC rebounded to $68,778 after hitting a low of $66,813 the day before. This revival occurred before the Mt. Gox news, hence the possibility that the news could erase the slight confidence returning to the market.

But what should traders expect if the bears resume dominance?

Fibonacci retracement indicated that Bitcoin could find the next major support between $60,000 and $63,000. This is based on the upward trend from the low in September to the last local high in October.

BitcoinBitcoin

Source: TradingView


Read Bitcoin (BTC) price prediction 2024-25


While it is possible that Bitcoin may retreat towards $60,000, the US election outcome could protect the price from further negative impacts.

A favorable outcome could push BTC back above the $70,000 mark, but that remains to be seen.

Next: SUI: Why the $1.6 level could make or break the token in the short term



Source link

Bitcoin Drop Goxs Latest Mount Move Price
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

2025-05-19

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

2025-05-19

All the reasons why the price of Bitcoin could be set for an explosive rally

2025-05-19

XRP – Price is struggling to keep the ground – breakdown or breathing break?

2025-05-19
Add A Comment

Comments are closed.

Top Posts

CryptoPunks Face Backlash as DMarket Leads NFT Sales

2024-05-21

Web3 responds to Apple’s Vision Pro headset

2023-06-06

Een omkering van de altcoin-dynamiek

2024-12-15
Editors Picks

Investment Titan BlackRock Questions SEC, Says Bitcoin and Ethereum ETFs Are No Different Than Futures ETFs

2023-11-12

NFT Sales Rise 16.1% to $96.1 Million, Bitcoin Network Dethrones Solana

2024-11-09

How are DOGE and SHIB faring as markets cheer for ETFs?

2024-01-11

Sam Altman’s “Orb” Wants to Scan Our Eyes, But Should We?

2023-07-24

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,087.52-0.87%
  • ethereumEthereum(ETH)$2,400.49-4.81%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.30-3.95%
  • binancecoinBNB(BNB)$638.32-1.48%
  • solanaSolana(SOL)$160.94-6.11%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.216176-3.78%
  • cardanoCardano(ADA)$0.72-5.57%
  • tronTRON(TRX)$0.262795-3.75%
  • suiSui(SUI)$3.68-4.52%
  • chainlinkChainlink(LINK)$15.18-4.16%
  • avalanche-2Avalanche(AVAX)$21.54-7.42%
  • stellarStellar(XLM)$0.279329-4.48%
  • hyperliquidHyperliquid(HYPE)$25.80-4.65%
  • shiba-inuShiba Inu(SHIB)$0.000014-5.56%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.95%
  • hedera-hashgraphHedera(HBAR)$0.186942-4.34%
  • bitcoin-cashBitcoin Cash(BCH)$381.48-4.88%
  • the-open-networkToncoin(TON)$3.01-3.54%
  • litecoinLitecoin(LTC)$95.08-3.79%
  • polkadotPolkadot(DOT)$4.47-6.78%
  • moneroMonero(XMR)$344.410.09%
  • bitget-tokenBitget Token(BGB)$5.14-0.79%
  • daiDai(DAI)$1.00-0.01%
  • pepePepe(PEPE)$0.000013-4.58%
  • piPi(PI)$0.73-3.80%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.71-5.39%
  • bittensorBittensor(TAO)$393.18-9.21%
  • aaveAave(AAVE)$218.32-3.72%
  • nearNEAR Protocol(NEAR)$2.69-4.23%
  • aptosAptos(APT)$4.96-5.55%
  • okbOKB(OKB)$52.03-2.33%
  • ondo-financeOndo(ONDO)$0.90-4.98%
  • kaspaKaspa(KAS)$0.103995-7.78%
  • internet-computerInternet Computer(ICP)$5.03-5.10%
  • ethereum-classicEthereum Classic(ETC)$17.64-5.08%
  • gatechain-tokenGateToken(GT)$21.36-1.37%
  • crypto-com-chainCronos(CRO)$0.094430-4.88%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.53-4.48%
  • mantleMantle(MNT)$0.73-1.48%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.230686-4.06%
  • vechainVeChain(VET)$0.027164-5.48%
  • render-tokenRender(RENDER)$4.39-6.69%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.351495-8.48%
  • filecoinFilecoin(FIL)$2.77-5.10%
  • cosmosCosmos(ATOM)$4.69-2.82%
  • algorandAlgorand(ALGO)$0.212870-5.00%
  • bitcoinBitcoin(BTC)$103,087.52-0.87%
  • ethereumEthereum(ETH)$2,400.49-4.81%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.30-3.95%
  • binancecoinBNB(BNB)$638.32-1.48%
  • solanaSolana(SOL)$160.94-6.11%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.216176-3.78%
  • cardanoCardano(ADA)$0.72-5.57%
  • tronTRON(TRX)$0.262795-3.75%
  • suiSui(SUI)$3.68-4.52%
  • chainlinkChainlink(LINK)$15.18-4.16%
  • avalanche-2Avalanche(AVAX)$21.54-7.42%
  • stellarStellar(XLM)$0.279329-4.48%
  • hyperliquidHyperliquid(HYPE)$25.80-4.65%
  • shiba-inuShiba Inu(SHIB)$0.000014-5.56%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.95%
  • hedera-hashgraphHedera(HBAR)$0.186942-4.34%
  • bitcoin-cashBitcoin Cash(BCH)$381.48-4.88%
  • the-open-networkToncoin(TON)$3.01-3.54%
  • litecoinLitecoin(LTC)$95.08-3.79%
  • polkadotPolkadot(DOT)$4.47-6.78%
  • moneroMonero(XMR)$344.410.09%
  • bitget-tokenBitget Token(BGB)$5.14-0.79%
  • daiDai(DAI)$1.00-0.01%
  • pepePepe(PEPE)$0.000013-4.58%
  • piPi(PI)$0.73-3.80%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.71-5.39%
  • bittensorBittensor(TAO)$393.18-9.21%
  • aaveAave(AAVE)$218.32-3.72%
  • nearNEAR Protocol(NEAR)$2.69-4.23%
  • aptosAptos(APT)$4.96-5.55%
  • okbOKB(OKB)$52.03-2.33%
  • ondo-financeOndo(ONDO)$0.90-4.98%
  • kaspaKaspa(KAS)$0.103995-7.78%
  • internet-computerInternet Computer(ICP)$5.03-5.10%
  • ethereum-classicEthereum Classic(ETC)$17.64-5.08%
  • gatechain-tokenGateToken(GT)$21.36-1.37%
  • crypto-com-chainCronos(CRO)$0.094430-4.88%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.53-4.48%
  • mantleMantle(MNT)$0.73-1.48%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.230686-4.06%
  • vechainVeChain(VET)$0.027164-5.48%
  • render-tokenRender(RENDER)$4.39-6.69%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.351495-8.48%
  • filecoinFilecoin(FIL)$2.77-5.10%
  • cosmosCosmos(ATOM)$4.69-2.82%
  • algorandAlgorand(ALGO)$0.212870-5.00%