Kaiko: Mt. Gox still has more than $2 billion in BTC to be distributed to creditors, and BTC faces potential selling pressure from the United States,

Kaiko, a provider of encrypted data, released a latest research report this morning, pointing out that oversupply has been a hot topic in the crypto market this summer. The report shows that there are still about 46,000 bitcoins (worth more than $2 billion) to be allocated to creditors in the Mt. Gox bankruptcy case, which may become the main source of market concerns. In addition, the holdings of bitcoins by governments such as the United States, the United Kingdom, and China, as well as institutions such as Tesla, may also form potential selling pressures in the coming months. Kaiko believes that it is difficult to comprehensively evaluate market liquidity by relying solely on single indicators such as trading volume. The report recommends analyzing multiple dimensions of indicators such as market depth, trading volume and liquidity ratio, and slippage. Research has found that during the large drop in the crypto market in early August, the slippage indicators of various exchanges showed significant changes, reflecting an increase in market pressure. Kaiko stated that although the liquidity of the crypto market has improved since the collapse of FTX, the impact of large position liquidation still needs to be treated with caution.