Analysis: Bitcoin short-term holders cost $63,900, lack of liquidity will continue until September

Odaily Odaily News Bitfinex analysts said that the lack of liquidity may continue until September, making it difficult for Bitcoin to overcome the resistance level of $63,900. The current price is difficult to break through the actual holding cost of short-term holders (STH) of $63,900. In addition, Mt.Gox and the US government still have nearly $15 billion in potential selling pressure. The US government holds more than 203,000 bitcoins worth $12.1 billion, and Mt.Gox will distribute another 46,000 bitcoins worth more than $2.7 billion. According to an August 29 report by Kaiko, a cryptocurrency analysis provider, Mt.Gox plans to distribute $2.7 billion on Kraken by the end of 2024, but it may not have too much impact on the market. Mt. Gox creditors did not sell a lot during the last major distribution of $4 billion. As of the end of July, Mt. Gox creditors received nearly $4 billion worth of BTC, accounting for 41.5% of the payments owed to users, and according to a July 29 report by Glassnode, most Mt. Gox creditors chose not to sell. "Creditors chose to accept Bitcoin instead of fiat currency, and only a small portion of the compensation Bitcoin will actually be sold on the market."