The market has barely responded to a massive transfer of $3 billion from a wallet linked to Mt. Gox.
This transfer, which took place on July 30, involved the transfer of 47,229 Bitcoins to unknown wallets in a three-hour period. Despite this, Bitcoin maintained its price above $66,000 and only briefly fell to $65,000.
This indifference from traders is because many believe the recipients of these Bitcoins, who were original investors in the sector, are likely to hold on to their assets for the long term.
As stated by Ben Simpson, founder of Collective Shift, these recipients are true believers in the asset and are unlikely to sell.