🚀🎉 Hold onto your hats, BTC enthusiasts! Mt. Gox, the once-bankrupt crypto exchange, is set to start repaying its creditors in Bitcoin and Bitcoin Cash from July 2024! 🎉🚀

After extensive preparations and discussions with crypto exchanges, the Mt. Gox Rehabilitation Trustee is ready to start the repayment process. The repayments will be made through trading platforms that have completed the necessary information exchange and confirmation process with the Trustee. 🔄💰

Remember, Mt. Gox went insolvent after a massive hack in 2014 that led to the theft of 850,000 BTC, valued at $460 million at the time. Some of the larger creditors opted to receive their recovery payout in BTC rather than fiat. 📉💔

However, this news has sparked some concerns. On-chain analysts have identified several large BTC movements associated with Mt. Gox in late May, which could put selling pressure on Bitcoin markets. 📊🔍

In addition to this, Bitcoin miners have been offloading the asset. They sold over 30,000 BTC worth around $2 billion in June, dropping reserves to a 14-year low. 🏭💸

The impact on BTC? Bitcoin prices dumped to $61,000 on the news, accelerating losses over the past 24 hours, which are now 4.6%. 😱💥

So, keep your eyes peeled, folks! The crypto world is full of surprises! 🌍🚀