đš MARKET ALERT: The Mt. Gox Bitcoin Movement Has Begun đš
The moment many have fearedâand others have waited a decade forâis finally here. Mt. Gox has started moving BTC.
What's happening?
âą The defunct exchangeâs trustee is preparing to distribute ~142,000 BTC ($9.7B+) to creditors by October 31.
âą This week, initial transfers to exchanges and preparatory movements have been confirmed.
Why it matters:
This is the single largest overhang on Bitcoinâs supply. While many creditors are long-term holders, the market is bracing for potential selling pressure as some choose to liquidate after 10 long years.
The big question:
Will this distribution create a prolonged dip, or will the market absorb it and move on? History suggests that after major supply unlocks, Bitcoin has often continued its long-term trendâbut volatility is almost guaranteed.
Stay sharp, watch the on-chain data, and keep perspective. This is a closure of cryptoâs oldest wound.
đ Whatâs your take? Buy the dip or brace for impact?