🚨 OVER 41.5% OF MT. GOX BITCOIN DISTRIBUTED - CREDITORS STILL HODL! 📈🔒
Even after a decade-long wait, Mt. Gox creditors are showing remarkable patience, with over 59,000 BTC of the 141,686 total now distributed, yet these assets remain largely untouched. 📊💼
💰 The distribution of these coins, valued at nearly $4 billion, has sparked curiosity. Despite the Bitcoin's staggering appreciation of over 8,500% since the exchange's collapse, creditors are choosing to hold rather than sell. According to a recent Glassnode report from July 29, creditors who opted for BTC over fiat might be waiting for the right moment, as only a fraction of the distributed coins are expected to hit the market soon. 📈🔍
📉 The Mt. Gox exchange, once a titan in the Bitcoin space, collapsed in 2014 following a major hack, losing 850,000 BTC. Since then, the exchange’s creditors, totaling about 127,000 individuals, have been patiently awaiting their recovery. The distribution, which concluded on July 24 via Kraken, has yet to significantly impact market dynamics. 📆🔐
🔎 Interestingly, despite the potential for sell pressure, the spot cumulative volume delta (CVD) on Kraken shows no significant increase in selling activity. This suggests that while there has been a slight uptick in sell-side pressure post-distribution, it remains within normal trading ranges. 📉📊
🚀 The overall trend indicates that Bitcoin investors are shifting back to a "hodling" mindset, moving away from profit-taking. Over 65.8% of Bitcoin supply has been inactive for over a year, reflecting a longer-term holding pattern akin to macro market tops. This behavior underlines a broader trend towards long-term investment rather than short-term trading. ⏳💎
As the Bitcoin price soars and market conditions evolve, it will be crucial to monitor how these distributed coins might impact the crypto landscape moving forward. 🌟🔮
