Mt.Gox Bitcoin Distribution Exceeds 41.5%, Creditors Still Hold On - Lao Lin's In-depth Interpretation
Although creditors have received more than $4 billion in Bitcoin since the collapse of Mt.Gox, they are not in a hurry to sell, but choose to continue holding. Data shows that 59,000 of the 141,686 distributed Bitcoins, accounting for about 41.5%, have been redistributed to creditors. It is worth noting that these creditors have witnessed the value of Bitcoin increase by more than 8,500% in their decade-long wait.
1. Distribution Overview:
Total Bitcoin Volume: 141,686 BTC Bitcoin Allocated: 59,000 BTC, accounting for 41.5% Distribution Value: More than $4 billion
2. Market Interpretation:
Holding Behavior: Despite receiving a large amount of Bitcoin, creditors are not in a hurry to sell. According to data from Glassnode, this shows that the selling pressure in the market has not increased as expected. Reasons for holding: Creditors choose to continue holding Bitcoin, reflecting their confidence in its future appreciation and their long-term bullish attitude towards the market.
Technical analysis and future outlook
1. BTC price trend:
Current price level: BTC price has not fluctuated significantly after the distribution was completed, and it has remained in a relatively stable range. Technical support and resistance: The current Bitcoin price fluctuates between key support and resistance levels, and may remain stable in the short term due to the creditors' holding behavior.
2. The long-term impact of the Mt.Gox incident:
Market confidence: Despite the huge security incident and long wait, creditors chose to hold Bitcoin, reflecting that the market's confidence in Bitcoin remains strong. Future trend: If the holding trend continues, the Bitcoin market may remain relatively stable for some time to come, further consolidating investor confidence.
More than 41.5% of Mt.Gox Bitcoin has been distributed to creditors, but they still choose to continue holding.
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