Are you a victim of Mt.Gox and got emailed of this distribution? I have googled about Mt.Gox recent news and didn't find any news regarding this. I hope it's just not only a promise and they will distribute it ASAP, it's already 8 years too.
If MtGox can distribute with Bitcoin amount, not in USD amount, then we will see many new people become a millionaire overnight and yeah, they will learn about holding. I'm expecting Bitcoin would only dump for short term since they will spent some of their Bitcoin to buy what they like and hold most of his coins to reach new ATH.
Mt Gox published a letter few days ago about distribution date to all eligible victims. I read this news when someone on our telegram GC brought this up and start the discussion on what's gonna happened to the price of Bitcoin after they start liquidating there Bitcoins on exchange. I'm not sure about the date provided by the OP but Mt Gox is really closed to repayment.
You read the article here:
https://en.cryptonomist.ch/2022/07/07/mt-gox-prepares-creditors/The price will crash if many people will sell a part from this volume in many exchanges at the same time. It will take a while before they start distribute that.