QCP Capital: The options market activity in July is sparse, suggesting that the market does not expect the Mt. Gox distribution to trigger significant volatility

ChainCatcher news, Singaporean crypto investment firm QCP Capital stated that the price of Bitcoin dropped significantly to a low of $60,500 after the Mt. Gox trustee announced that distributions would begin in early July. Although the Mt. Gox exchange trustee has extended deadlines multiple times over the years, more than 140,000 Bitcoins (worth $9 billion) were transferred earlier this year in preparation for debt repayment. Meanwhile, the firm observed that there was little activity in the July options market, suggesting that the market does not expect this distribution to trigger significant volatility. Given that spot prices are stabilizing above the $60,000 support level and that market activity is expected to be low in July, QCP Capital tends to deploy an accumulation strategy.