The long-awaited Mt. Gox Bitcoin repayments might be on the move! With billions in BTC set to be distributed, the market is bracing for potential selling pressure.
๐ฐ Whatโs Happening?
The defunct Mt. Gox exchange is preparing to return 140,000+ BTC to creditors, raising fears of a massive sell-off that could impact Bitcoinโs price.
๐ Market Impact:
๐ป Increased BTC supply could lead to short-term volatility
โก Some creditors might hold, while others could sell into strength
๐ Watch key support levels closely
๐ My Take:
The market will be watching every move from these transfers. A structured distribution plan could mitigate panic selling, but uncertainty remains. Stay sharp, traders! โก
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