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As Bitcoin (BTC) faces heightened volatility below the $100,000 resistance zone, on-chain data suggests the digital currency may face further declines in the coming days. Specifically, over 33,000 BTC valued at more than $3.23 billion has been transferred to cryptocurrency exchanges in the past week, according to data from prominent on-chain analyst Ali Martinez on December 27. Bitcoin exchange reserves chart. Source: CryptoQuant/Ali_charts A breakdown of the data shows a sharp uptick in Bitcoin exchange reserves, rising from 2.395 million BTC on December 18 to 2.428 million BTC by December 25. This movement coincided with a decline in Bitcoin’s price, which dropped from $105,000 to $98,400 over the same period. Picks for you 4 altcoins to buy under $0.10 for the start of 2025 3 hours ago ...

Defunct crypto exchange Mt. Gox transferred approximately $172.5 million worth of Bitcoin to unknown wallets less than 24 hours after the leading crypto recorded a new all-time high above $107K. On-chain data from Arkham Intelligence shows that Mt. Gox moved 1,691.6 Bitcoins to two unlabeled addresses on Dec. 17.  Reasons For The Latest Mt. Gox BTC Transfers Still Unclear The 1,691.6 BTC moved by the exchange were split between two transfers of 1,427.9 Bitcoins and 191.7 Bitcoins. A portion of the largest amount ended up in a wallet starting with “1DeY” after moving through another address. 108 BTC from the 1,427.9 Bitcoin transfer and the smaller 191.7 BTC amount were then cycled through several addresses before ending up in an address starting with “1KLr,” which on-chain data shows currently holds 300 BTC. The reasoning behind the latest transfers by the long-defunct crypto exchange remains unclear. Past movements by Mt. Gox have, however, been fol...