Investing.com– Bitcoin price declined on Thursday amid renewed concerns over token distributions by Mt Gox and as capital outflows from major exchanges also furthered a risk-off sentiment.
Fears of more selling pressure largely offset positive signals on U.S. inflation and interest rates, and saw Bitcoin and crypto markets lag a rally in their broader risk-driven peers.
dropped 3.7% to $58,812.2 by 09:07 ET (13:07 GMT).
Mt Gox fears back in focus after test transaction
Fears of selling pressure stemming from token distributions by defunct crypto exchange Mt Gox came back into focus this week, after a wallet associated with the exchange and holding $2 billion of Bitcoin was seen carrying out test transactions this week. The move could herald a new round of token distributions by the exchange, after it began returning Bitcoin stolen during a 2014 hack back to clients in July.
While it is unclear…
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