Mt. Gox, the former popular cryptocurrency exchange, has announced a one-year postponement of Bitcoin repayments to creditors, until October 2026. This decision has locked over $4 billion worth of Bitcoin out of circulation. The big question is, is this good news or bad news for Bitcoin's price going forward? Many analysts see this as a positive sign that could ease the massive selling pressure.
Bitcoin market analysis: Stronger than expected! Successfully absorbs Mt. Gox selloff
According to Arkham Intelligence, the Mt. Gox trust has been gradually returning approximately 75% of its Bitcoin to creditors since mid-2024, reducing its balance from 142,000 BTC to just 34,690 BTC. This means that over $12 billion worth of Bitcoin has been released into the market, but has failed to drive down the price.
Interestingly, since the repayment began, the price of Bitcoin has surged by 85%, reflecting the market's strong buying demand, which has easily absorbed the selling pressure. This is primarily due to the unrelenting demand for US spot Bitcoin ETFs and the continued accumulation of BTC by public companies.
However, the situation may be volatile in the short term, as reports of Bitcoin ETF outflows have emerged, which could occasionally put pressure on the market.
A clear example is MicroStrategy (MSTR), which has purchased 414,477 BTC (approximately $47 billion), 3.9 times the amount Mt. Gox repaid to creditors. This demonstrates that the Bitcoin market is currently much more liquid and deep than in the past. Therefore, postponing the repayment of the remaining $4 billion in Bitcoin reduces the risk of a sudden sell-off.
Besides MicroStrategy, other companies have also expressed confidence in Bitcoin. The latest report suggests that Metaplanet is using Bitcoin as collateral to repurchase its shares, signaling positive sentiment and helping restore confidence in the market.
Macroeconomic factors support Bitcoin's price surge to $150,000
Bullish analysts predict Bitcoin's price growth over the long term, with several key macro factors likely to mitigate the negative impact of Mt. Gox's distribution. First, the market anticipates the US Federal Reserve (Fed) will cut interest rates several times, which will ease pressure on risk assets and open the door for Bitcoin to reach $150,000 within the next few months.
Furthermore, progress in trade negotiations between the US and China has improved investor confidence in global markets, positively impacting both the stock market and crypto markets. Meanwhile, the global money supply (M2) is accelerating at its fastest pace since 2020.
Analysts have noted that if Bitcoin's price follows the same trend of increased liquidity seen post-COVID-19, it could potentially reach $500,000 by 2026, creating another historic bull run. With this strong growth outlook, many investors are starting to look for cryptocurrencies to invest in in 2025 to create opportunities for portfolio growth.
Bitcoin Hyper Sparks New Confidence Amid BTC Market Recovery
The Mt. Gox repayment postponement significantly reduced market selling pressure, benefiting projects like Bitcoin Hyper (HYPER), which are aggressively developing Layer-2 assets on the Bitcoin network. With the growing demand for Bitcoin-linked assets, HYPER has become one of the most anticipated presales of the year.
Despite the continued volatility in the crypto market, many investors believe HYPER has the potential to gain traction in the next bull run, especially once the SVM blockchain and cross-chain bridge system are fully operational. This community support and viral marketing strategy have also propelled HYPER into a trending meme coin, seamlessly blending fun with real-world technology.
If you're considering Bitcoin Hyper, read our Bitcoin Hyper price analysis or a detailed guide on how to buy Bitcoin Hyper to boost your confidence and plan more accurately.
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