According to ChainCatcher, QCP Capital said that concerns about large-scale BTC sales after the Mt. Gox exchange distribution may exacerbate bearish sentiment. Mt. Gox will begin distributing customer assets stolen in the 2014 hacker attack in July 2024. The previous deadline has been postponed for several years. The amount will be made in the form of Bitcoin and Bitcoin Cash, which may bring selling pressure to both markets.
However, some traders’ long-term bullish outlook remains intact, predicting a price rally to $150,000 after the Mt.Gox distribution is complete. Tom Lee, head of research at Fundstrat Global Advisors, said: “One of the biggest overhangs will be gone in July, which I think is a reason to expect a sharp rebound in the second half of the year.”
