MtGox Creditors May Sell Partial Bitcoin Holdings in July to Recover Funds Encrypted Market Expected to Gradually Recover After August

According to The Block, the bankrupt cryptocurrency exchange Mt.Gox has announced that it will begin distributing bitcoins to creditors next month, totaling approximately 142,000 bitcoins, valued at around $9 billion at current prices. Analysts at JPMorgan Chase predict that the market may come under pressure in the short term as creditors could sell some bitcoins to recover funds. However, they also point out that the cryptocurrency market may gradually recover after August as the market adapts and absorbs the impact.