Defunct crypto exchange Mt. Gox transferred 10,423 Bitcoin on Tuesday, its first on-chain movement in two months. Of that amount, approximately 10,306 BTC, valued at about $731 million, was sent to a new wallet address, according to Arkham Intel data .

The transfer weighed on market sentiment at a time when Bitcoin was already under pressure. The largest crypto asset was trading at $70,000, down 4% in the last 24 hours, CoinGecko data shows.

BTC retreated from $73,000 earlier today following a 32 BTC sale by Strategy and $484 million in ETF outflows, which stretched the spot ETF outflow run to 11 consecutive days.

The latest transaction has revived speculation over creditor repayments as Mt. Gox’s long-running rehabilitation process…