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.

The Bitcoin price is now showing signs of fatigue after a 3.44% uptick over the last 24 hours saw it hit $90,397.

This comes as blockchain analysts at Arkham detected a $1 billion Bitcoin transfer from the defunct Mt. Gox exchange.

The huge cryptocurrency move saw 12,000 BTC shift in one go early Thursday, March 6, 2025, highlighted by Arkham’s Transaction Explorer.

This had some market participants fearing volatility with creditors of the long-shuttered exchange still having to make crucial decisions.

Bitcoin stabilizes at $90K as huge Mt Gox coins move — will they jolt the market or spark profit-taking?

The scene: A Transaction Explorer alert from blockchain analysts Arkham had interesting implications.

Early Thursday, March 6, 2025, saw a final balance of 12,000 BTC shift from a Mt. Gox-linked wallet to an uncharted address.

At current prices, the coins were valued at over $1 billion.

This isn’t the first time in recent months that Mt. Gox was in the news for a large transaction.

Back in December 2024, another transaction saw $2.8 billion in Bitcoin move from the exchange.

The exchange, which went bankrupt in 2014 after losing 850,000 BTC, still holds a huge reserve of coins that could have a huge impact on the price if they were to be released.

Bitcoin price analysis: A slight rally

The cryptocurrency had been showing signs of fatigue after sliding towards the $100,000 mark.

Hope for a U.S. Bitcoin Strategic reserve was said to be discussed at the White House crypto summit on Friday, March 7, 2025.

The cryptocurrency is also showing signs of fatigue after sliding towards the $100,000 mark. Hopes for a U.S. Bitcoin Strategic reserve were said to be discussed at the White House crypto summit on Friday, March 7, 2025.

This had some fearing that the coin could slide if it weren’t for the fact that institutional adoption was said to be offering some support to Bitcoin price in recent months.

The market’s response will likely depend on whether these coins flow to exchanges or stay dormant.

A legacy of loss and repayment

For those unaware, Mt. Gox was once the world’s top Bitcoin exchange before a 2014 hack saw nearly $7 billion in today’s terms disappear as hackers stole 850,000 BTC.

The platform’s creditors are still being repaid, with a final deadline of October 31, 2025, fast approaching.

This had some traders keeping a close eye on the situation, especially as the huge sum of coins were moved.

This $1 billion transfer could indicate progress toward that deadline, although the recipient wallet’s purpose wasn’t immediately clear, according to a Transaction Explorer screenshot shared by Arkham.

Creditors holding pre-2013 coins might view the $90,000 price as a selling opportunity—or a reason to delay selling.

Arkham’s Transaction Explorer provides live, transparent tracking of blockchain activity. The $1 billion BTC landed in an unknown wallet—exchange-bound or cold storage? There's no confirmation yet. Bitcoin's price resilience, boosted by institutional adoption, might absorb some shock, considering past trends.