Founder of Capriole Investments: Large-scale on-chain transfers of Bitcoin occur, Mt. Gox may have started creditor repayments

ChainCatcher news, according to Cointelegraph, Charles Edwards, founder of the digital asset hedge fund Capriole Investments, pointed out in a tweet on July 2 that there has been a massive on-chain transfer of unused Bitcoin from the past 7 to 10 years, with a volume 10 times higher than previous peaks, suggesting that Mt. Gox may have started distributing these Bitcoins.

The price of Bitcoin fell below the psychological threshold of $60,000 on July 3, dropping 4.2% within 24 hours, reaching a low of $59,600. According to CoinMarketCap data, Bitcoin has decreased by 1.8% this week and has fallen nearly 18% since June. This decline may be related to Mt. Gox beginning to repay $9 billion worth of Bitcoin.