While Bitcoin started the new week with a decline, Mt. It was affected even more negatively by a new development in the Gox incident.

Mt. Gox trustee announced that it would start in July, BTC fell sharply.

As the reason for this decline, Mt. Concern about the sales pressure that Gox's refunds would create on the BTC price came to the fore; However, analysts believe that this selling pressure may be lighter than expected.

According to Galaxy Research, Mt. Gox argues that a significant portion of the Bitcoin distributed within the scope of refunds may not be sold immediately.

"Of the total 141,000 BTC allocated for Mt. Gox's distribution, 65,000 BTC will be delivered to individual creditors and 30,000 BTC will be delivered to demand funds. It is logical to assume that most of the BTC acquired by funds receiving demand from creditors will not be sold to liquidity providers and will be distributed directly looks."

Mt. Gox's Bitcoin Refunds Impact

Sam Callahan, senior analyst at Swan Bitcoin, also commented on Mt. Evaluated the impact of Gox refunds on the BTC price.

Callahan said the selling pressure due to Mt. He noted that they might be tempted to hold on to their Bitcoins because they might have to pay capital gains tax if they sell those Bitcoins.”

Finally, Tagus Capital also has Mt. He emphasized that potential selling pressure from Gox refunds could be more measured.

"The exact amount of Mt. Gox refunds to be distributed in July was not specified, but these refunds will be part of a larger refund plan that includes 142,000 Bitcoin and 143,000 Bitcoin Cash, as well as fiat currency totaling 69 billion Japanese yen ($432 million) "However, Mt. Gox creditors are likely to hold on to their Bitcoins because these creditors are long-term investors and have resisted previous offers and will pay capital gains taxes if they sell these Bitcoins."

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