Bitcoin price traders got another reason to stare nervously at on-chain dashboards on June 2 after more than 7,000 BTC moved into exchange-linked wallets within a matter of hours. The transfers involved two of the market's most closely watched holders.
Mt. Gox moved more than $700 million worth of Bitcoin while the market was already under stress, giving traders a familiar reason to ask whether old bankruptcy coins are moving closer to new supply. The estate-linked wallets moved 10,422 BTC on June 2, worth roughly $739 million at the time of the transfer.
Bitcoin miners finally had something to celebrate, delivering their strongest revenue gain in four months as May lifted earnings beyond the $1 billion mark for the first time since January. Current revenue, however, has cooled considerably, with bitcoin slipping below the $66,000 mark on Tuesday before staging a modest recovery the following day.