The market is not all bad news. For example, FTX plans to distribute $16 billion to its creditors.
August 16 is the deadline for FTX customers to vote, and Judge Dorsey will make a decision on the plan approval on October 7. If the court approves, FTX will repay creditors within two months, with an estimated time of the fourth quarter of 2024 to the first quarter of 2025, which perfectly coincides with other positive factors, such as interest rate cuts, the US election, and the implementation of the Financial Accounting Standards Board's accounting rules.
By then, most of the $16 billion will enter the crypto market, which will become the biggest catalyst for the bull market in 2025. The Germans' shipment is only temporary and will not affect the general trend! $BTC
