Bitcoin spot ETF ends 7 consecutive days of net outflow
On the other hand, according to data, Bitcoin spot ETF finally showed net inflow on June 25 and 26 after 7 consecutive days of net outflow from June 13 to June 24. The end of 7 consecutive days of net outflow of Bitcoin spot ETF is a sign of Bitcoin price stabilization.
The negative event of Mt.Got's announcement that it will repay customers' Bitcoin in July will cause less Bitcoin selling pressure than expected.
Since nearly 75% of creditors choose Early payout (need to accept 10% depreciation), there will only be about 95,000 Bitcoins for early payment of compensation (the remaining BTC will take longer to pay):
Of these, about 20,000 tokens belong to the claims fund, 10,000 tokens belong to Bitcoinica BK, and about 65,000 tokens are owed to individual creditors. It is expected that individual creditors will hold Bitcoin more persistently than the market expects:
1. Creditors are mainly long-term Bitcoin holders. They are technologically savvy early adopters.
2. Individual creditors have rejected attractive offers from the claims fund over the years, suggesting they would rather get their Bitcoin back than receive compensation denominated in USD.
3. The capital gains tax impact of the sale will be large. With prices rising, even if only 15% of the claims are recovered in kind, claim holders have made 140x the value (in USD) on the Bitcoin they have recovered since bankruptcy.
