The$9.4billion BTC refund announced by the MTGOX trustee is set to impact themarket,with investors addressing crypto losses incourt.
Points
- MTGOXtorefund$9.4billioninBitcointocreditorsstartinginJuly.
- TheinfluxofBTCmayaffectthemarket,potentiallyleadingtonewpriceattemptsbelow$60,000.
- InvestorsremaincautiousamidreducedETFinterestandongoinglegalproceedings.
The$9.4billion BTC refund was announced to start in July by the MTGOXtrustee.Approximately127,000Mt Gox creditors will be refunded$9.4billion worth ofBTC.Thissupply,which has been forced to stay away from sales for10years,is now about to enter theexchanges.Investors remain cautious due to this excessive supply and the decrease in interest in the ETFchannel.This opens the door to new attempts below$60,000.
SpotETHETF
According to analysts at the crypto research firmK33Research,ETH ETFs that will be listed soon may perform better thanBitcoin.Analysts believe that a new wave of demand will start in themarkets,similar to the BTC ETFprocess.IfK33analysts Vetle Lunde and David Zimmerman arecorrect,we could see a better environment for altcoins in the second half ofJuly.
USDataReleased
Jobless claims came in4,000aboveexpectations.Thishigher-than-expectedannouncement was in favor ofcryptocurrencies.
BinanceandUSDC
We may see the popularity ofUSDC,the first global stablecoin to receive operating permission in the EuropeanUnion,increase evenfurther.
解説
- Theimminentreleaseof$9.4billioninBitcoinfromtheMTGOXrefundsisexpectedtoincreasemarketsupplyandpotentiallydepressprices.
- ETHETFscouldintroducenewdemanddynamics,possiblyoutperformingBitcoinandbenefitingaltcoins.
- FavorableUSeconomicdata,suchashigherjoblessclaims,supportthecryptocurrencymarket.
- TheoperationalapprovalofUSDCintheEUenhancesitscredibilityandmayboostitspopularity.