🚀Hey there, BTC enthusiasts!🚀

Get ready for a rollercoaster ride this July as the long-awaited restitution for users of the defunct Mt. Gox exchange is finally on the horizon!🎢 But hold onto your hats, folks, because this could potentially cause a few ripples in the market.😱

Bitcoin has been on a bit of a downward slide since June, struggling to gain momentum despite some ETF inflows. On July 3rd, it briefly dipped under $60,000 before bouncing back a little, only to take a bigger hit the next day.📉

The latest data suggests a "subdued" Q3 for Bitcoin, thanks to the uncertainty surrounding Mt. Gox's fund distribution.🤔

According to QCP Capital, we can expect Bitcoin's price to stay relatively calm. Despite a surge in the US equity market following Federal Reserve Chair Jerome Powell's statement about a disinflationary trajectory, Bitcoin and Ethereum haven't found any relief, hovering around $57,000 and $3,000 respectively.📊

The options market is leaning towards the topside, hinting at a possible year-end rally. This is backed by significant buying interest in longer-term options at the 100k and 120k strike prices.🎯

However, QCP Capital warns that Bitcoin might have a "subdued" Q3 performance, mainly due to the market uncertainty about the potential supply impact from the upcoming Mt. Gox release.🌊

The Mt. Gox saga began when the exchange lost 850,000 Bitcoin in investor funds in 2014. Now, $9.4 billion worth of Bitcoin is owed to around 127,000 creditors of Mt. Gox. These folks have been waiting for over 10 years to recover their funds!💰

While the upcoming distribution is a huge relief for the affected users, it's also sparked concerns about further selling pressure in the market. So, buckle up, BTC fans, it's going to be an interesting ride!🚀