Bitcoin dipped to its lowest point since February as Mt. Gox’s trustees transferred its first repayments to crypto exchange Bitbank early Friday morning.

Mt. Gox’s transfer of 1,545 BTC ($84.87 million at the time) came after prices had already sunk more than 10% over two days, slipping from $60,330 to $53,950. 

The Mt. Gox move comes as the German government continues to direct hundreds of millions of dollars in bitcoin to multiple crypto exchanges.

Germany sent bitcoin as recently as this morning, only one hour after Mt. Gox’s transfer. BTC has since recovered slightly to $55,300 and no other Mt. Gox transfers had hit the chain at time of writing.

The bigger and redder the… Read more on Blockworks