Bitcoin fell below $70,000 on Monday morning after Mt. Gox moved $739 million worth of Bitcoin. The transfer sent 10,422 coins to fresh addresses without sparking immediate exchange deposits or broad selling. That didn’t stop the market from souring.
On-Chain Movements
Mt. Gox shifted 10,422 BTC early Monday. Ten thousand three hundred six went to a new address starting with 14FEEMRh. The rest went to a known hot wallet. On-chain trackers saw no rush to dump on exchanges right after. Traders breathed easier for a few hours at least. It’s still a huge amount for a single move—$739 million doesn’t move quietly.
Strategy’s Small Sale Breaks Pattern
Strategy sold 32 BTC for $2.5 million between May 26 and 31. That ended its streak of steady accumulation. It’s barely a blip—less than 0.004% of its massive 843,000+ Bitcoin holdings. Still, it’s the first sale in a while. The market didn’t flinch much, but every sale gets noticed now.
Market Sentiment Sours
Investors ran for cover after the slide. The Crypto Fear & Greed Index plunged into extreme fear territory. Bitcoin’s trading 44% off its October 2025 high of $126,000. That’s a hard drop for any asset. Some traders muttered about bad timing. Others just watched charts turn red. The mood shifted fast once $70,000 gave way.
Support Levels in Focus
Traders are watching $68,000 like hawks. That’s the critical technical support level now. If it breaks, the next floor sits between $64,000 and $66,000. Mt. Gox still holds 34,500 BTC for remaining creditor repayments. The deadline for those payments is extended to October 31, 2026. That date’s now the next concrete marker everyone’s circling on calendars.
