Executive Summary
- Mt. Gox creditors are receiving 59k out of the 142k BTC recovered from the exchange's collapse.
- Wealth held by new investors is declining, emphasizing a trend towards long-term holding (HODLing).
- Long-term investors hold 45% of the network's wealth, a significant increase compared to previous market tops.
Mt. Gox Distribution Overview
- The distribution marks the end of a decade-long legal battle, with Kraken and Bitstamp handling the redistribution of 141,686 BTC.
- Sell-side pressure appears lighter than expected, indicating creditors might adopt a HODLing approach.
Investor Behavior and Market Dynamics
- Long-term holders show a reduced tendency to sell, even with a significant price increase.
- The supply held by long-term holders (45%) is rising, while that of short-term holders is declining.
- Metrics like the Realized Cap HODL Wave and Cumulative Volume Delta indicate a preference for holding over selling.
Summary
- The ongoing Mt. Gox distribution is managed with minimal market disruption due to a likely HODLing mindset among creditors.
- The Bitcoin market is characterized by increasing long-term holding, reducing the immediate sell-side pressure.
