๐ข Heads up, crypto fam! ๐
July's looking bright for Mt. Gox users as they might finally get their long-awaited restitution. But, it's got the market a bit jittery, fearing more sell-offs. ๐ฌ
โข Bitcoin's been on a bit of a rollercoaster, dipping under $60k, rebounding, then taking another hit. ๐ข
โข Q3 might be a quiet one for Bitcoin, thanks to the uncertainty around Mt. Gox's fund distribution. ๐คทโโ๏ธ
Despite the US equity market hitting new highs, Bitcoin and Ethereum are chilling around $57k and $3k, respectively. ๐
โข The options market is leaning towards a year-end rally, with lots of interest in longer-term options at the 100k and 120k strike prices. ๐ฏ
โข But, QCP Capital reckons Bitcoin's Q3 will be "subdued" because of the potential supply impact from the Mt. Gox release. ๐ค
Mt. Gox lost a whopping 850,000 Bitcoin in 2014, owing about $9.4 billion to its creditors. They've been waiting over a decade for their funds. ๐
While the repayments starting in July are a relief for users, it's causing some worry about more selling pressure in the market. ๐
What do you think? Will the Mt. Gox payouts cause a market shake-up? Let's chat in the comments! ๐ฌ #CryptoNews #Bitcoin