UBS strategists say impending Mt. Gox bankruptcy repayments might not be cause for concern for the price of bitcoin.

Crypto prices have been sluggish toward the end of February. Bitcoin was trading just below $23,500 by 10:30 a.m. EST, relatively flat, according to TradingView data. The cryptocurrency has traded in a narrow range over the past week, unable to cling to levels above $24,000. 

A significant moment for bitcoin price action could be the liquidation process of the defunct Japanese exchange Mt. Gox. Following a nearly decade-long process, creditors are about to recoup some of their funds, said Ivan Kachkovski, a strategist at UBS.