Bitcoin (BTC) price dips 0.4% after two sessions of gains as Mt. Gox moves $1 bln of BTC

Bitcoin experienced a slight decline on Tuesday after two sessions of gains, largely due to significant transfers by the defunct Japanese cryptocurrency exchange, Mt. Gox.

Investing.com - Bitcoin experienced a slight decline on Tuesday after two sessions of gains, largely due to significant cryptocurrency transfers by the defunct Japanese exchange, Mt. Gox.

By 01:55 ET (05:55 GMT), Bitcoin fell 0.4% to $86,731.9.

The token had surged at the start of the week as investors reacted to reports suggesting U.S. President Donald Trump is planning a measured approach to imposing fresh trade tariffs from April 2.

Arkham Intelligence noted that Mt. Gox moved 893 Bitcoins, worth approximately $78.11 million, to its hot wallet and 10,608 Bitcoins, worth around $927.48 million, to a change wallet during early Asian trading hours.

Investors had grown accustomed to large-scale cryptocurrency movements by Mt. Gox, usually sparking concerns of potential sell-offs, which can exert downward pressure on Bitcoin’s price. However, in this instance, the response was relatively muted, with Bitcoin trading above $87,000 during early Asian hours.

This subdued market reaction could be attributed to Mt. Gox extending the deadline for paying back its creditors to October 31, 2025, reducing immediate fears of large-scale liquidations.

But investors are keenly awaiting Trump’s new tariffs, which are expected to begin on April 2.

Instead of broad, industry-wide levies, Trump’s administration will be targeting specific countries with significant trade imbalances with the U.S., media reports showed.

This has reduced concerns of an escalation in trade tensions, boding well for riskier assets like cryptocurrencies.

Trump Media, Crypto.com partner for crypto-backed ETFs

Trump Media & Technology Group Corp (NASDAQ:DJT), the operator of social media platform Truth Social, announced on Monday a non-binding agreement with Crypto.com to launch a series of exchange-traded funds (ETFs) under the Truth.Fi brand.

These ETFs will focus on digital assets and “Made in America” industries, spanning sectors such as energy, and will include Bitcoin, Crypto.com’s Cronos (NASDAQ:CRON) CRO/USD, and other crypto assets.

Crypto price today: most altcoins subdued; Cardano, Dogecoin gain

Most other cryptocurrencies also slipped, in tandem with Bitcoin.

World no. 2 crypto Ethereum slid 0.7% to $2,052.24.

World no. 3 crypto XRP fell 1% to $2.4323.

Solana rose 1.3%, and Cardano added 2.6%, while Polygon was largely flat.

Among meme tokens, Dogecoin surged 5.3%, while $TRUMP lost 3.5%.