Reuters: Mt Gox bankruptcy liquidation risk may cause Bitcoin to record its worst weekly performance in six months

Bitcoin's worst weekly performance in six months last week, Reuters analysis may be shocked by the expectation that creditors of the collapsed cryptocurrency exchange Mt Gox may liquidate their funds. Matthew Dibb, chief operating officer of Stack Funds, a Singapore-based crypto asset management company, predicts that this situation may continue until Bitcoin finds support at around $53,000. He said that the Tokyo court has signed a plan to repay creditors of Mt Gox, triggering concerns about further declines. Those affected will receive a large amount of Bitcoin, possibly in the first or second quarter of 2022. In the longer term, this will bring some doubts to the market," as it is expected that those creditors may be sellers. In addition, institutional investors are observing whether the Federal Reserve will be forced to raise interest rates early, and trigger a general sell-off of risky assets including Bitcoin, so near-term activity may appear.