Bybit Institutional Business Head: Market May Have Digested Potential Sell-off of Mt.Gox, But Investors Remain Cautious

Eugene Cheung, head of institutional business at Bybit, said in a post on X that as the German government recently exhausted its Bitcoin reserves, the market has a brief breathing space and new demand has flowed in to support the market. The profitability of the current market remains robust, and the cost of most Bitcoin holders is still lower than the current spot price, which is in a favorable position. The asset allocation of the Mt.Gox bankruptcy case has been the focus of close attention in the industry for many years and is considered the most watched sell-off event in Bitcoin history. Although the market has likely digested the potential selling pressure brought about by the Mt.Gox incident, investors remain cautious.