The Mt. Gox cryptocurrency exchange’s delay in repaying creditors has sparked debate about its impact on the overall Bitcoin market. While some see it as bearish, others believe it fuels a bull run fueled by institutional demand and ETF inflows. 75% of Mt. Gox’s Bitcoin reserves have been redistributed to creditors since mid-2024, reducing its holdings from over 142,000 BTC to around 34,690. Despite this, Bitcoin prices haven’t been significantly impacted. Analysts believe that institutional demand for Bitcoin is strong enough to absorb any pressure stemming from the delay. Nasdaq-listed Strategy (MSTR) has alone accumulated over $47 billion worth of Bitcoin since mid-July. The increased liquidity in the market thanks to these investments suggests a stronger position to withstand large-scale selling. Meanwhile, global macroeconomic trends are playing a role: Federal Reserve rate cuts suggest the easing of interest rates, while progress on trade deals and increasing M2 money supply indicate positive overall risk sentiment, potentially paving the way for Bitcoin’s long-term growth towards $150,000 by year’s end.