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.

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.

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

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.

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

Recent blockchain movements sparked "irrational" fears, offering a buying opportunity for investors, NYDIG's Greg Cipolaro said.

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.

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.