TechFlow news, October 8 — According to The Block, K33 analysts Vetle Lunde and David Zimmerman released a new report stating that despite market declines triggered by Middle East tensions last week, multiple positive factors continue to support bullish expectations for Bitcoin in the fourth quarter. These include better-than-expected U.S. employment data, a market rebound over the weekend, and significant progress in the FTX creditor repayment process.
K33 analysts expect repayments to begin 60 days after the court's effective date—projected for mid-November—placing the start between late 2024 and early 2025. They estimate approximately $2.4 billion of creditor repayments could be re-injected into the crypto market. This figure is based on the following assumptions: of the total claims ranging from $14.4 billion to $16.3 billion, about $3.9 billion were purchased by credit funds and are unlikely to re-enter the market; around 33% of the remaining claims belong to sanctioned countries, insiders, or entities that failed KYC verification, making them ineligible to claim; of the final $8 billion eligible amount, 20% to 40% is expected to flow back into the crypto ecosystem, with $2.4 billion representing the midpoint of that range.
Nevertheless, analysts noted this process may occur in multiple installments over the next year, meaning its overall impact on the crypto market is likely to be moderate.
