Galaxy Digital Predicts Minimal Bitcoin Sell Pressure From Mt. Gox Resolution

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In an analysis shared via X, Alex Thorn, the head of research at Galaxy Digital, has projected that the Bitcoin market may face less sell pressure than anticipated from the resolution of the Mt. Gox bankruptcy case. With distributions of Bitcoin (BTC) and Bitcoin Cash (BCH) to creditors slated to commence in July, this marks the end of a decade-long legal ordeal stemming from one of the most catastrophic losses in the history of cryptocurrency.

Mt. Gox was once one of the largest cryptocurrency exchanges, handling over 70% of all Bitcoin transactions at its peak. Its downfall began with the revelation in 2014 that approximately 940,000 BTC (worth about $424 million at the time) were missing from its vaults, presumed stolen or misplaced.

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