Bitcoin Retreats as Traders Mull Risk of Sales Linked to Mt. Gox
- Failed Mt. Gox exchange closer to returning hoard of Bitcoin
- One key question is whether creditors will opt to sell tokens
Bitcoin recovered from a deep 2022 bear market by quadrupling since the start of last year, helped by the launch of spot-Bitcoin exchange-traded funds in January.
Photographer: Camilo Freedman/BloombergThis article is for subscribers only.
Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange, whose administrators have been stepping up efforts to return a $9 billion hoard of the largest digital asset to creditors.
The original cryptocurrency dropped as much as 3.1% and was trading at about $68,199 as of 8:13 a.m. Tuesday in New York. The weakness spread to smaller coins, including Binance Coin, Polkadot and Dogecoin. Second-ranked Ether was little changed.