Presto says a market-neutral strategy to profit from the Mt. Gox repayments by betting on bitcoin strength and against bitcoin cash.The strategy stems from the supply/demand dynamics for BTC and BCH due to the distribution of assets worth billions of dollars.

Founded in 2010 by Jed McCaleb and later sold to Mark Karpelès in 2011, Mt. Gox quickly became the world’s largest Bitcoin exchange, handling a staggering 70% of all global BTC transactions at its peak.

On Friday, bitcoin’s price sank below $55,000, representing an approximately 6% dip for the world's leading cryptocurrency. The globe's leading token hit $54,600, and is now languishing at $55,243, at the time of writing, while ethereum’s is sitting at $2,904.

Slippage, or price changes during execution of a trade, in the BCH market surged last week, signaling weak liquidity .

A clutch CPI print fails to buoy heavy crypto markets for long, with Bitcoin gaining then losing $1,000 within an hour. Bitcoin spiked to new one-week highs on July 11 as United States macroeconomic data delivered a bullish surprise.

Macro trader and economist Alex Krüger isn't concerned about the Bitcoin (BTC) sell pressure from Mt. Gox and the German government.

Mt. Gox has started repaying Bitcoin and Bitcoin Cash, ending a long wait for creditors and affecting market prices.

Nobuaki Kobayashi, the trustee for the Mt. Gox bankruptcy estate, said that the estate “made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors through a part of the Designated Cryptocurrency Exchanges etc. in accordance with the Rehabilitation Plan.”

Bitcoin’s latest dip is largely due to an uptick in on-chain selling pressure as governments liquidate seized Bitcoin and the crypto exchange Mt. Gox begins to repay creditors.

Collapsed Japanese crypto exchange Mt. Gox and the German government have stoked market fears of looming Bitcoin selloffs after they began paying creditors billions of dollars worth of Bitcoin and liquidating seized crypto assets.