Notice of Mt. Gox caused Bitcoin to drop to 60K, but you should not panic by this!
Mt Gox announced that it will refund Bitcoin (BTC) & Bitcoin Cash (BCH) to creditors as early as July 2024, shortened from the previously expected date of October 31, 2024. Bitcoin price immediately reacted and adjusted to 60K, most altcoins also decreased following this event.
Refunds from Mt. Gox will be implemented directly on centralized exchanges (CEX). However, these amounts will be divided into several installments to limit selling pressure on the market.
Therefore, you do not need to worry too much because it is impossible for a large amount of Bitcoin worth 9 billion USD to be brought to the market for sale at the same time.
