PANews reported on September 29 that according to Forbes, what further adds to the positive outlook for the crypto market in the fourth quarter is that the ongoing FTX bankruptcy process is expected to inject a large amount of funds into the market in the fourth quarter. It is expected that the total creditor distribution may be as high as US$16 billion and will begin in early October. Although rumors of immediate payment on October 1 remain speculation, its latest press release confirmed that the final voting results will be announced before the confirmation hearing on October 7, 2024. Given that more than 95% of the voting creditors initially support FTX's revised reorganization plan, the plan aims to repay bankruptcy claims in full. These payments will be made in US dollars, most of which are expected to flow back into the market, with Bitcoin expected to receive the largest share.
In addition, the article analyzes that factors favorable to Bitcoin's fourth-quarter trend include the U.S. SEC's quick approval of IBIT's option trading several months in advance and the support of looser global monetary policies. The article states that these factors together indicate that Bitcoin ETFs may regain momentum and see record capital inflows before the end of the year. As price movements begin to align with ETF capital flows, conditions are ripe for Bitcoin to usher in an extremely bullish market before the end of 2024.
