According to TechFlow, on July 16, Ki Young Ju, founder of CryptoQuant, said that Mt.Gox was preparing to distribute Bitcoin to creditors, and the massive outflow of funds indicated that retail investors had not yet received the funds. Unlike the German government's sale, Mt.Gox's creditors were not forced to sell, so this was not pure seller liquidity. Crypto analyst Alex Krüger estimated that this would cause the price of Bitcoin to fall by up to 10%, even if an immediate sell-off occurred.
Ki Young Ju said he believes the distribution will not end the bullish trend as these bitcoins are expected to react to market sentiment like the existing supply.
