Mt. Gox moves 10,422 bitcoin worth $739 million to a new wallet as deadline nears
Crypto
Mt. Gox moved 10,422 BTC (~$739M) to a new wallet with a small slice hitting its hot wallet, signaling imminent distribution ahead of repayment deadlines. Large creditor unlocks of this scale historically create short-term sell pressure as recipients liquidate long-held coins.
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↓ SHORT-8% target+4% stop1-2 weeks
Short MSTR as a leveraged BTC proxy — Mt. Gox hot-wallet activity flags near-term distribution overhang that hits levered names hardest.