After a decade of waiting, in July users of the former Mt. Gox may finally receive compensation for their losses. However, market players are worried about further sales. 😟

It is important to understand that Bitcoin has already been declining since early June and has failed to build significant upward momentum despite modest ETF inflows. On July 3, the price briefly fell below $60,000 and then rebounded slightly. The next day the price fell even further. 📉

The latest data points to a "subdued" Q3 for Bitcoin due to uncertainty surrounding the distribution of Mt. Gox.

According to the latest update from QCP Capital, the Bitcoin price is expected to remain relatively calm. This indicates significant interest in buying long-term options at the 100k and 120k strike prices.

However, QCP Capital believes Bitcoin will have a "subdued" performance in the third quarter, mainly due to market uncertainty surrounding the potential supply impact from the upcoming Mt. Gox.

Reimbursement for Mt. users will begin in July. Gox. The exchange lost 850,000 Bitcoin investor funds in 2014. Mt. Gox owes about $9.4 billion in Bitcoin to approximately 127,000 lenders. These creditors have been waiting more than 10 years to get their funds back after the exchange went bust in 2014 due to a slew of undetected hacking attacks.

The latest news of the distribution, which will begin in early July, is a huge relief for affected users, but it has raised fears of further pressure on sales in the market.