● Bloomberg: Mt.Gox trustee says Bitcoin and BCH repayments will begin in July
According to TechFlow, the reorganization trustee of MtGox Co., Ltd., Nobuaki Kobayashi, issued an announcement announcing that it will begin to repay in Bitcoin and Bitcoin Cash (BCH) according to the reorganization plan. The reorganization trustee has completed the relevant preparations and will start to repay the cryptocurrency exchanges that have completed information confirmation and exchange docking from the beginning of July 2024.
● Galaxy Research Director: Bitcoin selling pressure caused by Mt.Gox will be less than expected
According to BlockBeats, Galaxy research director Alex Thorn posted on the X platform that the number of tokens ultimately distributed in the Mt. Gox bankruptcy case will be less than people think, and the Bitcoin selling pressure caused by Mt. Gox will be less than expected.
According to its analysis, Mt.Gox lost about 940,000 bitcoins that year, worth $424 million at the time, and has recovered 15% so far, or 141,868 bitcoins. According to calculations, it is expected that about 95,000 bitcoins will be used to pay claims, of which about 20,000 bitcoins will be allocated to the claim fund, 10,000 bitcoins will be allocated to Bitcoinica BK, and about 6,500 will be allocated to individual creditors (6,500 is much lower than the 141,868 previously released by the media), so the number of tokens allocated for compensation will be lower than market expectations.
According to Odaily Planet Daily, Mt.Gox disclosed today that it plans to start BTC and BCH compensation in July. The value of its Bitcoin holdings is approximately US$9 billion. According to Bloomberg Senior ETF Analyst Eric Balchunas, this amount of funds is equivalent to more than half of the Bitcoin ETF inflows being offset.
● CryptoQuant CEO: Still bullish on Bitcoin in the long term, but need to avoid excessive risks
According to Odaily Planet Daily, CryptoQuant founder and CEO Ki Young Ju released this month’s data summary on X:
-Bitcoin is still in a bull cycle;
-Whales are in risk-off mode, reducing their futures contract positions;
-Selling pressure from miners and long-term holders;
-Negative Coinbase Premium;
- Difference from the trader’s entry price of $47,000;
- Lack of new inflows into ETFs and custodial wallets;
-ETH demand exceeds BTC, possibly signaling early altcoin season.
Overall, it remains bullish in the long term, but at the same time believes that excessive risks should be avoided.
● Fear and Greed Index fell sharply, hitting a one-year low
According to TechFlow, according to the latest data from alternative, today's Fear and Greed Index (FGI) fell sharply, from 51 points to 30 points, a drop of 41.18%, hitting a new low in nearly a year.
According to Foresight News, CoinShares weekly report shows that digital asset investment products had outflows for the second consecutive week last week, with a total outflow of $584 million. Among them, Bitcoin gold outflows reached $630 million, and Ethereum funds outflows reached $58 million. However, multi-asset products have inflows of $98 million.
● QCP Capital: Bitcoin miners face selling pressure, holdings fall to 14-year low
According to Odaily Planet Daily, QCP Capital pointed out in a recent market analysis report that Bitcoin miners are facing huge selling pressure due to the rise in break-even prices after the halving event. Miners' Bitcoin holdings have fallen to the lowest level in 14 years, and the total reserves have decreased by 50,000 from the beginning of this year. The report also mentioned that the market has also been hit by a large amount of new supply. It is said that the German government has recently sold about 3,000 BTC, and there are 47,000 BTC to be sold.
● Bitcoin daily trading volume fell to a five-month low of about $8.1 billion
According to BlockBeats, according to Coinpaprika data, on June 24, Bitcoin's daily trading volume fell to a five-month low of about $8.1 billion on Sunday, June 23. The last observed low was on Sunday, January 21, 2024, when the trading volume was only about $6.7 billion.
