PANews reported on July 4 that according to CoinDesk, Peter Chung, head of research at Presto Labs, wrote in a report that concerns that the selling pressure from the Mt.Gox bankruptcy redemption will cause the price of Bitcoin to fall are unfounded, but this may be a bearish situation for Bitcoin Cash (BCH). The report wrote: "Our analysis shows that the selling pressure on BCH will be four times greater than that of BTC: 24% of BCH's daily transaction volume vs. 6% of BTC's daily transaction volume." He pointed out that BCH's daily transaction volume is one-fiftieth of BTC's.
Chung said in an interview that the sell-off of BTC is expected to be limited because anyone who wants to exit can sell their claims on the bankruptcy claims market. In the past decade, due to the active bidding of the claims fund, weak creditors have had many opportunities to exit, so it is safe to assume that the current group of creditors is composed of firm bulls holding BTC. Traders will "treat BCH as an airdrop" and sell it immediately because the fork of BCH occurred three years after the bankruptcy of Mt. Gox. Unless there is funding rate risk, long BTC perpetual contracts paired with short BCH perpetual contracts are the most effective market-neutral way to express this view. Those who want to lock in funding rates can explore other methods, such as shorting short-term futures or borrowing BCH in the spot market.