Bitcoin Price Surges to $61,500 Following $2 Billion Movement from Mt. Gox Exchange
Bitcoin’s price climbed to $61,500 on Aug. 13 after $2 billion in Bitcoin linked to Mt. Gox exchange was moved. The rally, which saw a nearly 5% increase in just one hour, has sparked renewed optimism in the market.
The flagship crypto gave up some gains after a minor pullback from the daily peak. However, it was still up 3.75% over the past 24 hours, trading at $60,770 at press time.
Mt. Gox Reaction
Over 33,000 Bitcoin worth $2 billion were transferred from Mt. Gox to another address, fueling immediate market reactions. This event lifted Bitcoin from around $59,500 to $61,500, signaling positive momentum after recent volatility.
The ongoing distribution of recovered funds has alleviated concerns of sell-offs, with traders viewing the movement as progress in Mt. Gox repayments.
Altcoins Surge
Ethereum (ETH) was up 1.7% to $2,700, Solana (SOL) rose to $147, BNB climbed to $521.5, and XRP surged to $0.58. Other altcoins like TON, DOGE, and ADA recorded minor gains for the day.
Bitcoin Market Data
At press time on Aug. 13, 2024, Bitcoin is ranked #1 by market cap, up 2.27% in the past 24 hours. Bitcoin has a market cap of $1.2 trillion with a trading volume of $31.16 billion.
Crypto Market Summary
Total crypto market cap is $2.12 trillion with a 24-hour volume of $69.16 billion. Bitcoin dominance stands at 56.23%.
