Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Presto says a market-neutral strategy to profit from the Mt. Gox repayments by betting on bitcoin strength and against bitcoin cash.
“The Mt. Gox’s Rehabilitation Trustee plans to distribute multi-billion dollars worth of BTCs and BCHs between July 1st and October 31st, 2024,” Presto market analysts led by Peter Chung told CoinDesk in a note Wednesday. “This can create a shift in supply/demand dynamics in BTC and BCH during this 4-month period, potentially opening up a pair trading opportunity.
“Our analysis shows that the selling pressure for BCH will be four times larger than for BTC - i.e. 24% of the daily trading value for BCH vs. 6% of the daily trading value for BTC. Long BTC perpetuals paired with short BCH perpetuals is the most efficient market-neutral way to express this view, barring funding rate risk,” Chung added.shows over $27 billion worth of BTC exchanged hands in the past 24 hours, compared to $180 million of BCH.
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