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Kaiko: Mt. Gox still has over $2 billion worth of BTC to be distributed to creditors, facing potential selling pressure from the US, UK, and other countries.

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#Bitcoin
TechFlow
680Words
Aug 30, 2024

DeepFlow TechFlow News, the encrypted data provider Kaiko released the latest research report this morning, pointing out that oversupply has been a hot topic in the cryptocurrency market this summer.

The report shows that there are about 46,000 bitcoins (worth over $2 billion) to be allocated to creditors in the Mt. Gox bankruptcy case, which may be a major source of market concern.

In addition, bitcoins held by governments in the United States, the United Kingdom, China, and institutions such as Tesla may also create potential selling pressure in the coming months.

Kaiko believes that it is difficult to comprehensively assess market liquidity relying solely on single indicators such as trading volume. The report suggests analyzing multiple dimensions of indicators such as market depth, trading volume and liquidity ratio, slippage, etc.

The research found that during the sharp drop in the cryptocurrency market in early August, the slippage indicators of various exchanges showed significant changes, reflecting increased market pressure.

Kaiko stated that although market liquidity has improved since the collapse of FTX, caution is still needed regarding the potential impact of liquidating large positions.

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