Mt. Gox, the defunct Japanese exchange, will begin distributing 140,000 Bitcoin ($4 billion) to creditors on Oct. 31, 2023. The repayments may cause a drop in the price of Bitcoin if creditors sell their crypto, potentially leading to a bear market. The Tokyo District Court has the power to push back the repayment deadline due to changing global regulations. Mt. Gox's bankruptcy trustee, Nobuaki Kobayashi, will oversee the distribution of Bitcoin to approximately 42,000 creditors. Japan established crypto regulations following the collapse of Mt. Gox, and exchanges must now register with the government and keep customer transaction reports.

Traders Union, a reputable organization in the trading industry, has shared their insights on whether Bitcoin will rise again. According to Traders Union experts, Bitcoin is currently a good investment due to its decentralized nature, limited supply, and immunity to traditional economic forces. However, potential investors must also consider the risks, such as regulatory concerns and the possibility of a recession. The size of one's Bitcoin investment should be based on their financial capabilities and risk tolerance, with a recommended maximum allocation of 10% of total long-term investment capital. Ultimately, the decision of how long to hold Bitcoin depends on the investor's goals and type of investment. Traders Union can provide guidance and education on Bitcoin and other trading opportunities for those interested in investing. For more information, visit their official website.

Bitcoin whales and sharks, who own between 10 BTC and 10,000 BTC, have purchased around $2.14 billion worth of the cryptocurrency since June 17, despite its flat trading between $30,000 and $31,000. These investors now own 13.02 million BTC, worth over $391 billion.

Bitcoin's hash rate reached a new record high over the weekend, making it increasingly difficult for any individual or group to control more than 50% of the network's computational power. The hash rate is a critical metric that reveals the health and security of the network, serving as a measure of the estimated computational power committed to supporting the Bitcoin ecosystem.

Bitcoin NFT collections have seen a significant increase in sales volume, surpassing Ethereum's NFT sales. The rise of Bitcoin Ordinals, which represent NFTs created on the Bitcoin network, has contributed to this trend.

Major players on Wall Street, including BlackRock, are starting to embrace the crypto industry. BlackRock's founder and CEO, Larry Fink, who once called Bitcoin "an index of money laundering," has now submitted an application for a Bitcoin spot ETF and praised the cryptocurrency's potential to revolutionize finance. Other financial giants, such as Citadel Securities and Fidelity Investments, are also entering the crypto space.

Switzerland, known for its banking secrecy laws, has seen a growing adoption of Bitcoin for everyday payments, particularly in the city of Lugano. The head of Lugano's Plan ₿ initiative, Giw Zanganeh, believes that the Swiss society's interest in Bitcoin aligns well with Swiss values of individual sovereignty and financial privacy.

During a Twitter space hosted by Bitcoin developer Udi Wertheimer, Ethereum co-founder Vitalik Buterin suggested that Bitcoin needs scalable solutions like zero-knowledge (ZK) rollups to become more than just a payment network. ZK-rollup chains are off-chain protocols that operate on top of the Ethereum blockchain and offer a more scalable and faster way to verify transactions without sharing critical user information.

Bitcoin remained stable above $30,000 on Monday as China's producer price index (PPI) data indicated that the global liquidity-tightening cycle, which began last year and affected cryptocurrencies, is coming to an end. China's PPI fell 5.4% YoY in June, the ninth consecutive monthly decline and the steepest drop in seven years, leading to deflationary pressures in the global economy.

According to Standard Chartered, the price of bitcoin could reach $50,000 this year and $120,000 by the end of 2024, which may lead bitcoin miners to hoard more of the supply. The bank had previously predicted a $100,000 end-2024 forecast for bitcoin in April, but now sees a 20% "upside" to that call. This is due to increased miner profitability per bitcoin mined, allowing them to sell less while maintaining cash inflows, which reduces net bitcoin supply and pushes prices higher.