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Mt.Gox Repayments: Will $8 Billion Flood Crash the Crypto Market?

  • The repayments of funds to Mt.Gox creditors under the rehabilitation plan have caused increased volatility in the crypto market.
  • During the first round of repayments, the Bitcoin price dropped from $63k to around $53k.
  • Arkham Intelligence indicates that more repayments are on the horizon as Mt.Gox emptied four wallets and consolidated funds in a cold wallet.
  • Wall Street analysts believe a major crypto market shakeout is imminent, and the Mt.Gox repayment of nearly $3 billion could trigger further bearish volatility.

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