The defunct cryptocurrency exchange Mt. Gox has executed another massive Bitcoin (BTC) transfer, moving $1 billion in BTC.

The transfer comes as the exchange’s creditor payouts approach, with the deadline set for October 2025.

Mt. Gox Shifts 11,501 BTC in Massive Transfer

According to blockchain analytics firm Arkham Intelligence, Mt. Gox transferred a total of 11,501 Bitcoins to two wallets. A change wallet (address: 1DcoA) received 10,608 BTC worth $929 million. In addition, Mt. Gox’s hot wallet (address: 1Jbez) received 893 BTC worth $78 million.

This move follows two significant transactions earlier this month. On March 6, the exchange transferred 12,000 BTC worth $1 billion at the time. Less than a week later, it made another 11,834 BTC transfer valued at $910 million.

In the latter instance, 332 BTC worth over $25 million was deposited into the Bitstamp exchange, hinting at potential liquidation activity. Thus, SpotOnChain suggested that the 893 BTC sent to the hot wallet could soon be on the move again, too.

After the latest transfer, Mt. Gox still holds 35,583 BTC worth over $3 billion. The latest actions may signal preparations as the exchange moves to repay creditors who lost funds in its infamous hack over a decade ago.

An approaching repayment deadline adds urgency to the situation. Last October, the trustee overseeing Mt. Gox’s assets extended the cutoff for creditor repayments by a year, setting a new date of October 31, 2025. 

“Many rehabilitation creditors still have not received their Repayments because they have not completed the necessary procedures for receiving Repayments. Additionally, a considerable number of rehabilitation creditors have not received their Repayments due to various reasons, such as issues arising during the Repayments process,” the notice read.

Meanwhile, the transfer had minimal impact on Bitcoin’s price. According to BeInCrypto data, BTC was only down 0.19% over the past day. At the time of writing, it traded at 86,756.

Notably, the coin has been gradually recovering from recent losses. BeInCrypto’s analysis indicates Bitcoin is approaching a breakout from a descending wedge pattern. If confirmed, this could set the stage for further gains, potentially reaching up to $95,000.

Arthur Hayes, former CEO of BitMEX, has also shared a bullish outlook for Bitcoin.

“The price is more likely to hi $110k than $76.5k next. If we hit $110k, then it’s yachtzee time and we ain’t looking back until $250k,” he wrote on X.

His reasoning is based on the expectation that the US Federal Reserve will shift from quantitative tightening (QT) to quantitative easing (QE), which would increase liquidity. Hayes also suggested that tariffs and their inflationary effect won’t have a lasting impact on the economy. Therefore, this would not hinder Bitcoin’s potential rise.

President Trump plans to announce a new round of reciprocal tariffs on April 2. This will be aimed at reducing the $1.2 trillion trade deficit for the US. He calls it “Liberation Day” for the US economy. 

As Trump’s earlier tariffs significantly impacted the crypto market and triggered liquidations, his April 2 decision might also have notable implications for the market.

What’s New with Trump’s Liberation Day Tariff Plans? 

Trump may delay some of the most aggressive sector-specific tariffs. This might include industries like those in autos, semiconductors, and pharmaceuticals.

Instead of blanket sector tariffs, the US might focus only on countries with the largest trade surpluses and the highest barriers to US goods. These are informally referred to as the “Dirty 15”—a group of 10 to 15 countries.

However, the decision is still not final. Trump could still change course, as he’s done in past announcements. 

“I may give a lot of countries breaks, but it’s reciprocal, but we might be even nicer than that. You know we’ve been very nice to a lot of countries for a long time. But I call it liberation day. April 2nd is liberation day,” the US president announced. 

Delaying or narrowing the scope of tariffs could ease some pressure on both the stock and crypto markets. 

As we’ve seen recently, when tariffs seem aggressive, markets often dip. When they seem more measured or delayed, prices often stabilize or rebound.

Possible Scenarios for the Crypto Market Under Trump’s Tariff Plans

The April 2 tariff announcement could impact the crypto market in a few key ways, depending on how aggressive or targeted the final policy is. Here’s a breakdown of how and why it might move crypto prices.

If Tariffs Are Aggressive (Broad, High Duties)

• Risk sentiment drops: Equity and bond markets would likely react negatively to aggressive tariffs, especially on autos, chips, or pharma. That tends to spill over into crypto, which investors still treat as a risk-on asset class.
• Bitcoin and Ethereum could dip, as traders hedge against slower global growth and increased inflation risk.
• Capital flight into USD or cash could trigger short-term outflows from speculative assets like altcoins.

For instance, when Trump reaffirmed steep tariffs in February, Bitcoin dropped below $90,000 amid broader market jitters. The same pattern could repeat.

If Tariffs Are Narrowed (Delays or Selective Targeting)

• Market relief rally: If Trump’s administration confirms they’ll delay auto/chip/pharma tariffs and only target a few countries with high trade barriers, investor anxiety may ease.
• That could fuel a short-term recovery in crypto prices, particularly if equity markets also rebound.
• Increased clarity reduces volatility, which markets—including crypto—tend to reward.

For instance, when Trump hinted at flexibility earlier this month, Bitcoin rebounded to around $88,000. Narrower tariffs could spark a similar uptick.

Overall, the crypto market has been highly sensitive to macroeconomic signals lately. Tariffs drive fears of slower global trade and higher inflation.

All of these affect investor risk appetite. Even though crypto isn’t directly tied to trade flows, it’s deeply entwined with broader liquidity conditions and investor sentiment.

The market is experiencing renewed optimism as crypto inflows reached $644 million last week.

It is a significant reversal after five consecutive weeks of outflows, suggesting a notable change in investor sentiment.

Crypto Inflows Reach $644 Million, Market Sentiment Recovers

The rebound follows a challenging period in which investor sentiment remained cautious, leading to substantial withdrawals from the market. With total assets under management (AUM) rising by 6.3% since March 10, the latest data suggests a decisive shift in market confidence.

According to the latest CoinShares report, Bitcoin emerged as the primary driver of the market recovery. The pioneer crypto attracted $724 million in inflows, effectively ending a five-week outflow streak totaling $5.4 billion.

The surge in inflows reflects growing investor confidence in Bitcoin, which had previously seen sustained withdrawals amid broader market uncertainty. While Bitcoin saw a strong recovery, the altcoin market experienced a mixed performance.

Ethereum faced the heaviest outflows, with $86 million exiting the asset. On the other hand, Solana recorded $6.4 million in inflows.

The divergence in altcoin sentiment highlights that investors remain selective about where they allocate capital. Specifically, they focus on projects with perceived strong fundamentals. While the data points to continued investor caution regarding Ethereum (ETH), it also indicates investors see strong potential for Solana (SOL).

Meanwhile, most of last week’s infWeek’ssiginated from the US, which saw $632 million enter digital asset investment products.

March Reverses February’s Negative Trend

The return to inflows follows a difficult February and early March, during which crypto outflows surged. A week prior, crypto outflows totaled $1.7 billion, with Bitcoin withstanding the worst withdrawals.

Before that, outflows hit $876 million, led by US investors offloading digital assets amid a bearish trend. Therefore, the latest influx of capital suggests that sentiment may be turning, possibly driven by renewed institutional interest and a more stable macroeconomic outlook.

Further reinforcing the market’s rebound, Bitcoin ETFs (exchange-traded funds) also saw a strong influx of capital. After five consecutive weeks of outflows, Bitcoin ETFs recorded $744 million in inflows last week. This signals increased institutional participation.

The recovery aligns with Bitcoin’s broader market resurgence and suggests that investors are regaining confidence in crypto-based financial products.

“I bet BTC hits $110,000 before it retests $76,500. Why? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause transitory inflation,” wrote BitMex founder Arthur Hayes.

Meanwhile, BeInCrypto data shows BTC was trading for $87,720 as of this writing. This represents a surge of almost 4% in the last 24 hours, with the pioneer crypto steadily edging toward the $90,000 psychological level.

“Bitcoin rose above $87,000 on Monday, its highest since March 7, after dipping to $76,000 earlier this month. The rally comes as reports suggest upcoming Trump tariffs, set for April 2, will be more targeted and less disruptive than feared,” finance expert Walter Bloomberg observed.

The upcoming Trump tariffs, set for April 2 and dubbed “Liberation Day,” are expected to be less disruptive than anticipated. This could boost investor confidence in riskier assets like Bitcoin. The White House’s plan for reciprocal tariffs aims to equalize trade barriers, with Trump emphasizing no exceptions but offering unspecified “flexibility” for certain nations.