The Mt. Gox Rehabilitation Trustee has recently moved nearly $9.63 billion in Bitcoin and Bitcoin Cash to new wallets, causing panic among investors and raising concerns about potential market effects. However, experts have dismissed these concerns, stating that the distribution of these funds is unlikely to have a significant impact on Bitcoin (BTC) prices or overall crypto market sentiment.

Several factors, such as the current bull market, potential Fed rate cuts, and the availability of better investment options to reinvest and further increase their return on investments, are likely to make creditors reluctant to sell their BTC holdings. Many creditors plan to either hold onto their coins or sell them gradually as BTC prices continue to rally.

The trustee plans to start distributing Bitcoin and Bitcoin Cash to creditors in the near future, with the goal of paying out almost 95,000 BTC and a similar amount of Bitcoin Cash this year from more than 140,000 BTC and a similar amount of Bitcoin Cash. This means that about 75% of the total deposit is expected to be paid out to creditors in 2023.

Despite the recent movement of funds, Bitcoin's price has seen a 12% upside move this month, with a year-to-date rally of 52%. The 24-hour low and high are $66,633 and $69,500, respectively, and trading volume has increased by 12% in the last 24 hours, indicating strong interest among traders.

Legendary trader Peter Brandt has predicted a likely formation of a cup-and-handle pattern in BTC price, with the handle pattern forming now as BTC price slides to a low of $66,670. This pattern is often seen as a bullish signal, further reinforcing the belief that the Mt. Gox payout is unlikely to have a lasting negative impact on Bitcoin's price.