Bitcoin faced renewed selling pressure after falling to approximately $61,400, while bankrupt crypto exchange Mt. Gox initiated another Bitcoin transfer that caught the attention of traders worldwide. The latest on-chain movement involved 116.3 BTC, valued at roughly $8.16 million, sent to cryptocurrency exchange Bitstamp.
This transaction comes at a time of high market volatility, leading investors to wonder if more Bitcoin might soon enter the market. Many are watching Mt. Gox wallet activity closely, since large transfers in the past have raised worries about more supply and possible drops in Bitcoin prices.
Arkham Intelligence, a blockchain analytics platform, spotted this transfer. It came after a much larger transaction earlier in the week, when 10,422.65 BTC worth about $739 million was moved. That earlier transfer was one of the most closely watched Bitcoin transactions this month.
The transaction was confirmed in Bitcoin block #952,072 at around 04:47 UTC. Most of the funds, totaling 10,306.35 BTC and valued at about $730.78 million, went to a new wallet. The remaining 116.3 BTC was linked to Mt. Gox operational wallets before being sent to Bitstamp.
Creditor Repayments Drive Speculation
This latest transfer has led to speculation that Mt. Gox might be getting ready for more creditor payouts. Some analysts think the Bitcoin could be sold for cash to make repayments, while others believe the assets may just be sent directly to creditors through exchanges like Bitstamp.
Several factors continue to support these theories:
- Mt. Gox repayment activities have accelerated in recent months.
- Bitstamp has previously been used in creditor distribution processes.
- The October 2026 repayment deadline is approaching.
- Large Bitcoin holdings remain under trustee control.
Recent blockchain data shows that Mt. Gox still holds about 24,081 BTC. At today’s prices, that’s worth around $1.55 billion, making the exchange one of the biggest remaining sources of possible extra Bitcoin supply.
October 2026 Deadline Nears
The trustee in charge of Mt. Gox’s rehabilitation got court approval to move the repayment deadline from October 31, 2025, to October 31, 2026. This extension gives more time to handle unresolved claims and other administrative steps.
While base repayments, early lump-sum distributions, and several intermediate repayments have largely been completed, some creditors are still awaiting compensation due to documentation issues and procedural requirements. The latest extension marked the third major delay since the original repayment schedule.
Mt. Gox started in Tokyo in 2010 and at one point handled most of the world’s Bitcoin trading. The exchange collapsed in 2014 after a major security breach led to the loss of about 850,000 BTC.
Recovered assets for creditor payouts include 142,000 Bitcoin, 143,000 Bitcoin Cash, and about 69 billion Japanese yen, which is roughly $431 million in cash. By March 2025, the trustee had already sent Bitcoin and Bitcoin Cash to around 19,500 creditors using platforms like Kraken and Bitstamp.
With Bitcoin trading near important support levels, investors will likely keep a close eye on Mt. Gox wallet activity. Any big increase in distributions could affect short-term market sentiment, especially when volatility is high.
Sources & Methodology
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