Bitcoin dropped to $61,300, potentially facing a 17% weekly loss, as Mt. Gox transferred BTC for creditor repayments and Bitcoin ETFs experienced continued outflows. Mt. Gox moved 116.3 BTC to Bitstamp, contributing to selloff concerns.

Bitcoin's price declined to approximately $61,300, with concerns mounting over potential selloffs due to ongoing transfers from Mt. Gox and persistent outflows from Bitcoin ETFs. The defunct exchange moved 116.3 BTC, valued at $8.16 million, to Bitstamp as part of its creditor repayment process, which has a deadline of October 31, 2026. This follows an earlier transfer of 10,422.65 BTC ($739 million). Separately, the HYPE token saw significant activity, with large withdrawals from Kraken and Coinbase being staked, suggesting accumulation despite market conditions.
These events highlight the ongoing impact of Mt. Gox's liquidation process on Bitcoin's price and market sentiment, while also indicating potential institutional interest in specific altcoins despite broader market downturns.