A total of nearly 41,000 BTC will be unlocked in July, and the NV (notional value) will be close to 1.4 billion U.S. dollars. The largest unlock will take place on July 18, when 16,240 BTC will be available because the six-month lock-up period for GBTC shares has been released.
Bitcoin has been trading sideways in the past few weeks, but with the unlocking of GBTC, this may change, and it is important to be prepared for volatility.
Well we have to look at who owns this 41,000 BTC, majority of holders are not average joe traders like the majority of us, the holders are big institutions obviously. So you have to ask yourself, are they willing to sell right now when the market price is -50% from it's all time high?
Logic suggest that this institution wouldn't, because they are looking for more profit in return. Perhaps 6 months ago they have bought BTC at a premium so it doesn't make sense to sell or short it, in my opinion.
able to sit on their investments until they decide to sell, Bitcoin price this month so
wouldnt be an opportune time to sell especially when the near future could prove better.