According to market news, the Mt.Gox trustee said that the recovery plan is ready and will start to repay BTC and BCH, which is expected to start in early July.

There is no doubt that this is a substantial negative news for the current market. If the repayment is made as scheduled in July, the price of Bitcoin will continue to be under pressure. The Mt.Gox trustee address holds 141,686 BTC, worth about $9.2 billion.

A few days ago, as the K-line signal of a large-volume decline in Bitcoin appeared, I predicted that this wave of retracement may cause the price to fall below $60,000. At present, there are only a few points away from breaking the integer mark. Judging from the market trend, this process is likely to be completed today and tomorrow.

The price of Bitcoin has fallen below $61,000, and Ethereum has also fallen below $3,300, showing a continued downward trend of Bitcoin. The market is still clearly downward. At present, we can only hope that the support level of $60,000 can be maintained. If it goes down further, $56,000 will become the key support, which determines the final depth of the retracement.

According to data from TheBlock, Bitcoin miners have sold more than 30,000 Bitcoins since June, equivalent to about $2 billion.

This is the fastest sell-off in more than a year. Next, market expectations are mainly focused on Ethereum ETFs, but neither Bitcoin spot ETFs nor Ethereum futures ETFs are sufficient to form a large-scale capital-side positive. The biggest hope at present is that funds will flow into the crypto market as the Fed cuts interest rates, but this will take time to achieve.

Objectively speaking, the next few months may be a bit painful for everyone, but I don’t think there is a need to be too pessimistic. The market always rises and falls. I have repeatedly suggested reducing positions at high levels before, based on risk considerations. Now I am full of confidence in the bull market next year, which is also based on trust and understanding of the market.

The future strategy is still mainly to buy at low points. Considering that the market is in a retracement cycle, you can participate in some swing operations while buying at the bottom. In addition, from a price perspective, many old-fashioned altcoins have experienced a wave of sharp adjustments, and if they continue to fall, they will enter a more attractive range. $BTC $ETH $SOL #内容挖矿 #Mt.Gox将启动偿还计划