According to BlockBeats, on July 16, CryptoQuant founder Ki Young Ju wrote: “Mt.Gox is preparing to distribute Bitcoin to creditors. Large-scale capital outflows indicate that retail investors have not yet received the funds. When this happens, CryptoQuant will confirm it through on-chain data. Unlike the German government’s sale, Mt.Gox’s creditors were not forced to sell, so this was not pure sell-side liquidity.
Crypto analyst Alex Krüger estimates that this could cause a maximum drop of 10% in the price of Bitcoin, even if an immediate sell-off occurs. I believe this distribution will not end the bullish trend, as these Bitcoins are expected to react to market sentiment like the existing supply.”
