Bitcoin reached an unprecedented milestone, exceeding $100,000 as on December 4th, it peaked at $104,000. This historic surge is attributed to the strong institutional adoption of Bitcoin, particularly through exchange-traded funds (ETFs), and increased national acceptance of the cryptocurrency.
Simultaneously, 27,000 BTC were moved from the infamous Mt Gox wallet. This movement raises questions about possible market impacts, stemming from the historical significance of the Mt Gox exchange, which collapsed in 2014.
The movement of such a large amount from Mt Gox wallets suggests ongoing implications for the market and the stakeholders involved. It also highlights the continued recovery and distribution process associated with the former exchange's bankruptcy proceedings.
