JPMorgan: Mt. Gox creditors may sell some Bitcoin next month

2024-06-27 18:41:40

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ChainCatcher news, according to The Block, JPMorgan analysts indicate that Mt. Gox creditors are expected to sell some of their Bitcoin receivables next month, which could put pressure on the cryptocurrency market, but a recovery may begin in August. Mt. Gox creditors will receive 142,000 Bitcoins from July to October, worth approximately $9 billion at current prices.

Despite the October deadline, JPMorgan analysts believe that most repayments will occur in July. FTX creditors are also expected to receive repayments in the coming months, but these repayments will be in cash rather than providing physical repayments to Gemini and Mt. Gox creditors. Analysts state that these repayments from FTX could support the cryptocurrency market and may reinvest the funds into assets.

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