K33 Research cautions Mt. Gox’s imminent $9B payout could impact Bitcoin (BTC)

• Gox will distribute 142,000 BTC and 143,000 BCH, worth more than $9 billion, to creditors.
• The payment process may start as early as next month.
• All eyes are on the impact of payments on Bitcoin and Bitcoin Cash price, especially after the Bitcoin halving event.

Mt. Gox, once a major player in the cryptocurrency exchange landscape, suffered a devastating hack in 2014, leading to its collapse. Now, almost a decade later, the defunct exchange is preparing to distribute a large amount of digital assets, including approximately 142,000. Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH)Creditors owed a total of more than $9 billion.

This impending payment has caused concern among market observers, with K33 Research highlighting the potential for a negative impact on the price of Bitcoin. report Released on Tuesday.

According to analysts, the influx of Mt. Gox coins into the market could put downward pressure on BTC valuation in the coming weeks.

Potential impact on the price of Bitcoin (BTC)

K33 Research analysts have highlighted concerns that Mt. Gox’s influx of digital assets into the market could put pressure on Bitcoin’s price in the coming weeks. Although creditors may not immediately sell their assets, the anticipation of payment may create caution among investors, potentially weakening market sentiment.

Creditors recently received an update on their BTC and BCH claims, indicating that payments may begin sooner than initially anticipated. This development, coupled with the deadline set for reimbursement by the Mt. Gox trustees, has sparked speculation within the crypto community.

Market observers are divided on the potential impact of the Mt. Gox payment on the price of Bitcoin. While some believe creditors may choose to keep their funds, others fear that the massive amount of digital assets entering the market could lead to selling, leading to a temporary decline in prices. .

Despite uncertainty over the Mt. Gox payout, the crypto market continues to show resilience in the face of external pressures. However, investors are advised to exercise caution and closely monitor developments related to the distribution process to minimize any adverse impact on their portfolio, especially as warned by K33 Research analysts.