Bitcoin (BTC) prices fell below $68,000, losing 2% in the past 24 hours as the defunct exchange Mt. Gox processed a significant transfer of over 32,000 BTC, valued at $2.2 billion. The transfers involved movements to new wallet addresses, with nearly 30,400 BTC sent to one address and 2,000 BTC to another after initially being routed through a cold wallet. Such transactions typically precede sales in the market, contributing to market volatility. Mt. Gox's repayments, resulting from a prolonged bankruptcy process initiated after a massive hack in early 2014 that lost an estimated 740,000 BTC, are anticipated to exert selling pressure on BTC, as investors are inclined to sell assets acquired at much lower prices prior to 2013. The repayment plan has now been extended until October 31, 2025, continuing to shape the dynamics of the cryptocurrency market and trading behavior ahead of significant national events, including the U.S. elections.

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