Investing.com– Bitcoin prices fell on Wednesday as Mt Gox apparently mobilized about $2 billion worth of the tokens, raising concerns about further withdrawals from the shuttered cryptocurrency exchange.

Risk sentiment also cooled as Wall Street snapped an eight-day winning streak and investors began looking for more positive signs that could extend the rebound that began in mid-August.

fell 2.8% to $59,397.1 by 01:38 ET (05:38 GMT), after failing to sustain above the $60,000 support level.

Mt Gox predicts $2 billion in token turnover, distribution concerns persist

A wallet linked to Mt Gox has been observed to have accumulated around $2 billion worth of Bitcoin, potentially preparing for the distribution of more tokens.

The shuttered exchange began returning tokens stolen in a 2014 hack to customers in early July. It initially sent bitcoin’s price into a tailspin, raising fears of increased supply and a massive sell-off.

But while Bitcoin has recouped most of its initial losses, traders were still on edge about any potential distribution from the exchange. It’s also unclear how much Bitcoin Mt Gox holds, although the exchange was seen trading around $9 billion worth of the token earlier this year.

Bitcoin Struggles to Break Above $60K, More Positive Signals Expected

Bitcoin has recouped most of the losses suffered in early August as fears of a US recession subsided.

However, the token failed to regularly break through the $60,000 level, and there were not many positive signals in the cryptocurrency markets.

While broader risk sentiment was boosted by expectations of interest rate cuts and a cushioned landing for the US economy, bitcoin lagged behind a stronger stock market rebound.

The trend also comes amid sinking capital inflows into cryptocurrency investment products. Product trading volumes were also a fraction of the peaks seen during the launch of spot Bitcoin ETFs earlier this year, data this week showed.

Cryptocurrency Price Today: Altcoins Fall on Fed Signals

Prices of broader altcoins fell Wednesday, tracking Bitcoin’s losses. The world’s No. 2 token Ether fell 3.4% to $2,594.51.

and lost between 2% and 3%, while and rose by 5.3% and 3.3%, respectively.

Among meme tokens, the decline was 1.4%.

Markets are focused on more hints of U.S. interest rate cuts this week, with the Federal Reserve set to meet in tardy July on Wednesday. The Fed struck a dovish note during the meeting.

is scheduled to speak at a symposium in Jackson Hole on Friday and potentially offer more guidance on interest rates, amid growing expectations that the central bank will cut rates in September.