The FTX Distribution News Is Not Bullish

Here's why

The FTX went bankrupt in November 2022, and since then, a lot of people have been waiting for their funds to get back.

→ Today, it was reported that FTX is planning to distribute money to its users.

But here are two things most people are missing:

→ FTX will give the USD value to the users rather than BTC or ETH, which means they will/have dump their holdings (This is bearish).

FTX users will get their money based on the crypto prices in November 2022, which means if someone had 1 BTC, they would get $16,000 rather than $43,000.

I'm happy for all those who are getting their money, but from a price perspective, this is bearish.

Also, the users will get way less than what they should have gotten.