Mt. Gox Former CEO's 80,000 BTC Recovery Call

Mark Karpelès, former CEO of Mt. Gox, called for community support to recover stolen funds from 79,956 Bitcoins (worth approximately 5.25 billion dollars, with BTC price at 65.679 USD) that have been dormant for over 15 years. On Friday, he proposed a hard fork on GitHub that adds a consensus rule to move these Bitcoins to a recovery address without the original private key. These coins are known as one of the most famous UTXOs in Bitcoin history.

Source: Jameson Lopp

Mt. Gox Trustee's Distribution Management

Karpelès emphasized that Mt. Gox trustee Nobuaki Kobayashi is managing distributions to creditors, and recovered funds will be delivered to owners within a legal framework. The proposal aims to initiate community discussion without bypassing the Bitcoin development process. Mt. Gox was the world's largest Bitcoin exchange between 2010-2014 and went bankrupt after a major hack in 2014. With recent developments, the trustee is accelerating BTC distributions.

Harsh Criticisms from the Bitcoin Community

It received harsh criticisms on the Bitcointalk forum; opponents argued that it would risk Bitcoin's immutability principle and irreversibility, creating a bad precedent. Some Mt. Gox creditors, however, supported it.

Source: Luke Dashjr

BTC Technical Analysis: Support and Resistance Levels

Current BTC price 65.679 USD (-3.16% 24h), in downtrend with RSI 38.01. Strong supports: S1 64.316 USD (⭐75/100, -2.03%), S2 60.000 USD (⭐71/100, -8.60%). Resistances: R2 68.166 USD (+3.84%), R1 78.962 USD (+20.28%). BTC PERP rose 8.40% from the 62.401 USD low, turning weekly positive. For more, check BTC detailed analysis.

• Supertrend: Bearish
• EMA 20: 68.575 USD

Market Impact and Hard Fork Discussion

This proposal could affect Bitcoin's futures market. Progressing without community consensus is difficult; ALT coins are watching volatility. Mt. Gox news is pressuring BTC.