Gemini

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/jpmorgan-predicts-potential-market-crash-from-mt-gox-creditor-sales/">Bitcoin Braces for Impact! Mt. Gox Payouts Threaten July Sell-Off</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://markets.coinpedia.org/bitcoin/">Bitcoin (BTC)</a> has hit a roadblock in its bullish journey of 2024, facing setbacks fueled by reversing flows into spot BTC ETFs. The recent trend suggests a bearish trend as over 140,000 Bitcoins are set to flood the market, amplifying the ongoing sell-off concerns triggered by the Mt. Gox antiquated <a href="https://coinpedia.org/news/germanys-900-bitcoin-transfer-sparks-crypto-market-speculation/">Bitcoin sell-off</a>.</p> 
<p>Here’s the story. </p> 
<h2 class="wp-block-heading" id="h-market-jitters"><strong>Market Jitters</strong></h2> 
<p>One of the looming shadows over Bitcoin’s price stability is the impending sell-off of Bitcoins by Mt. Gox, anticipated to commence in July. Analysts from JPMorgan indicate that this could exert initial downward pressure on prices, with recovery potentially expected by August. The situation is further complicated by the influx of $11 billion in fiat compensation to FTX creditors, a portion of which may find its way back into the market.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">JUST IN: JPMORGAN SAYS "DOWNSIDE RISK LOOMS" – EXPECTS MT GOX CREDITORS TO DUMP PART OF THEIR HOLDINGS PLACING SELL-PRESSURE ON THE MARKET IN JULY</p>— BSCN Headlines (@BSCNheadlines) <a href="https://twitter.com/BSCNheadlines/status/1806279602630730238?ref_src=twsrc%5Etfw">June 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-what-does-history-tell-us"><strong>What Does History Tell Us?</strong></h2> 
<p>Looking at past events like Gemini Earn creditors, who liquidated part of their crypto assets depressed crypto price since May 29. JPMorgan’s bitcoin futures position indicator, based on CME futures, suggested that retail customers, rather than institutional investors, have been primarily selling off their crypto holdings.</p> 
<p>In the meanwhile, <a href="https://coinpedia.org/news/mt-gox-to-begin-repaying-creditors-in-bitcoin-and-bitcoin-cash-next-week/" target="_blank" rel="noreferrer noopener">Mt. Gox creditors</a> are set to receive 142,000 bitcoins, worth around $9 billion at current prices, from July to October. Despite the October deadline, JPMorgan analysts believe most repayments will occur in July. This could lead to further market pressure in July, with a potential rebound from August onwards.</p> 
<h2 class="wp-block-heading" id="h-future-prospects"><strong>Future Prospects</strong></h2> 
<p>Looking ahead, FTX creditors are set to receive substantial cash repayments estimated between $14 billion and $16 billion post the approval of their wind-down plan in October. Unlike the previous in-kind repayments to other creditors, these cash injections could inject positive momentum into crypto markets as recipients consider reinvesting in digital assets.</p> 
<p>The recent market reaction has been swift and severe, with Bitcoin witnessing a 7.5% correction, slipping below the $61,000 mark as of June 27, 2024, settling at $60,720. As July approaches, investor attention remains fixated on whether Bitcoin will experience a resurgence or plunge further into uncertainty by month’s end.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/bitcoin-price-prediction-no-confirmation-of-volatile-shifts-heres-when-serious-fireworks-will-begin/" target="_blank" rel="noreferrer noopener">Bitcoin Price Prediction: No Confirmation Of Volatile Shifts; Here’s When Serious Fireworks Will Begin</a></p> 
<p><strong>What will you be doing with your crypto holdings in July?</strong></p>

Bitcoin Braces for Impact! Mt. Gox Payouts Threaten July Sell-Off

Mục lục

CoinPedia News

Các bài viết khác được xuất bản trên 27 thg 6, 2024

How to Profit from Tokenized Gold, Silver, and Platinum

MoonBag Tops Chart For the Top Crypto Presale in 2024, Sealana & Kangamoon Falter

Ubisoft’s Beyond Good and Evil classic game struggles on Steam

Nansen Welcomes Algorand Technologies to Its Platform

Forecast for 2024: Bitcoin (BTC), Ethereum (ETH), and Cosmic Kittens (CKIT) Positioned for Signif...

Worldcoin and Alchemy Partner to Build World Chain Infrastructure

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!