Bitcoin Price Faces $1 Billion Mt. Gox Test: Stability or Sell-Off Ahead?

The Bitcoin price, steady at $90,397 after a 3.44% rise over the last 24 hours, now confronts another challenge. Early Thursday, March 6, 2025, blockchain analysts at Arkham tracked a $1 billion Bitcoin transfer from the defunct Mt. Gox exchange—12,000 BTC shifted in one go.

This move, spotlighted by Arkham’s Transaction Explorer, has sparked concerns among market participants about potential volatility as creditors of the long-shuttered exchange weigh their options.

With Bitcoin stabilizing at $90,000, the question looms: will this jolt steady the market or trigger a wave of profit-taking?

Mt. Gox’s $1 Billion Bitcoin Price Trigger

Arkham’s alert on March 6, 2025, detailed the transfer of 12,000 BTC, valued at over $1 billion at current prices, from a Mt. Gox-linked wallet to an unidentified address.

This isn’t an isolated event—December 2024 saw a $2.8 billion Bitcoin shift. The exchange, which collapsed in 2014 after losing 850,000 BTC, still holds a substantial reserve enough to influence price dynamics if unleashed.

Bitcoin’s price has rallied 3.4% on select exchanges, per market data, with trading volume dropping massively over the last 24 hours.

The cryptocurrency had been edging toward $100,000 hinged on the hopes of a U.S. Bitcoin Strategic reserve at White House crypto summit on Friday.

However, this $1 billion move has introduced uncertainty. The market’s response hinges on whether these coins flow to exchanges or stay dormant.

A Legacy of Loss and Repayment

Mt. Gox’s 2014 hack wiped out 850,000 BTC—billions in today’s terms—once making it the world’s top Bitcoin exchange.

Its ongoing creditor repayments, extended to October 31, 2025 keeps it relevant. This $1 billion transfer could signal progress toward that deadline, though the recipient wallet’s purpose remains unclear, per Arkham’s screenshot. Creditors holding pre-2013 coins might see $90,000 as a sell signal—or a reason to wait.

Arkham’s live tracking keeps the focus sharp. The $1 billion BTC landed in an unknown wallet—exchange-bound or cold storage? No confirmation yet. Bitcoin’s price resilience, bolstered by institutional adoption, might absorb some shock, per past trends.