TechFlow reported, according to Cointelegraph, Charles Edwards, founder of digital asset hedge fund Capriole Investments, pointed out in a July 2 tweet that there has been a massive on-chain transfer of bitcoins dormant for the past 7 to 10 years—10 times higher than previous peaks—suggesting that Mt. Gox may have begun distributing these bitcoins.
Bitcoin price fell below the psychological level of $60,000 on July 3, dropping 4.2% within 24 hours and hitting a low of $59,600. According to CoinMarketCap data, Bitcoin declined 1.8% this week and nearly 18% since June. This drop may be linked to Mt. Gox commencing repayments of $9 billion worth of Bitcoin.
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