Mt. Gox's distribution of BTC to its creditors puts pressure on the Bitcoin price. With the decrease of over 1% in the last 24 hours, BTC found buyers at $ 65,983. Mt. Gox's distribution of BTC via Kraken increased the selling pressure in the market.

Cryptoquant CEO Ki Young Ju, Mt. Although Gox stated that its creditors received BTC through Kraken, he emphasized that this situation did not create a major change in the market. Ju stated that the stable outlook on the stock market is positive for the future of BTC.

According to data from Arkham Intelligence, Mt. Gox transferred 37,477 BTC worth $2.5 billion in recent hours. A total of 52,549 BTC ($3.31 billion) has been transferred, including the refunds made since July 5.

With today's correction, Bitcoin price declined below the important $66,500 support level. According to CryptoQuant data, BTC recovered after breaking this level, but analysts pointed out that investors hodling BTC in the 3 to 6-month period returned to the average purchase price range of $ 63,600.

Bitcoin Comments
According to CryptoQuant data, while a significant decrease was observed in the total deposit addresses for BTC across all exchanges, its value reached 250,000. This shows that hodl transactions are increasing and investors' confidence in Bitcoin is increasing.

The decreasing supply of investors who do not want to sell may increase the difficulty of finding purchasable BTC in the future and, accordingly, contribute to the increase in prices.

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