Will the next step be a bearish carnival?
On June 24, the Mt.Gox trustee announced that it would begin repaying Bitcoin (BTC) and Bitcoin Cash (BCH) in early July 2024. Data shows that as of June 24, the Mt.Gox trustee held approximately 140,000 Bitcoins, worth approximately US$9.26 billion.
The huge BTC compensation plan has long been a "Sword of Damocles" hanging over the crypto market. Since the Mt.Gox trustee holds a large amount of Bitcoin and Bitcoin Cash, its repayment work may lead to a large number of tokens being sold on the market, thus bringing selling pressure to the market. This selling pressure may cause the price of Bitcoin and other related tokens to fall.
