Bitcoin’s (BTC) sell-off continued throughout Friday’s Asian buying and selling hours as defunct alternate Mt. Gox moved sizeable BTC to a brand new pockets, doubtlessly getting ready for creditor repayments.The main cryptocurrency by market worth fell over 4% to $53,600, reaching the bottom since Feb. 26, in line with charting platform TradingView and CoinDesk.At 00:27 UTC, Mt. Gox transferred 47,228 BTC ($2.6 billion) from chilly storage to a brand new pockets, in line with blockchain analytics agency Arkham Intelligence. The alternate is slated to begin distributing belongings stolen from purchasers in a 2014 hack.The approaching repayments, which embody 140,000 BTC ($7.73 billion), 143,000 BCH, and the Japanese yen, had been introduced final month. Since then, merchants have been fearful that collectors who’ve patiently waited for reimbursements for a decade will instantly promote upon receiving cash, creating mass promoting stress available in the market. Observe that BTC was buying and selling at roughly $600 when the alternate was hacked in 2014, and immediately, it’s value over $55,000.A number of analysts have not too long ago tried to calm nerves by saying the potential promoting stress from reimbursements could be restricted, however to no avail. BTC has declined 10% in seven days and 22% in 4 weeks.The extraordinary sell-off has flipped the horizontal assist of $56,500 stemming from Might lows into resistance. Moreover, the bears have established a foot maintain beneath the essential 200-day SMA and the bull market trendline.