Maybe the release of 100,000 BTC will not be that damaging. Sure if everyone sells, we will find new levels, but right now, I think it is the only event investors wait to begin buying both Bitcoin and altcoins.
Nobody wants to buy fearing MtGox holders will dump their 9 year forced-hodled coins. Maybe they won't but it is fear of a dump that blocks many investors at this point.
The soonest the MtGox BTC are released, the better for everyone in this market. The FUD will end, and if prices drop then we get a discount.
I think it's in batches and for sure lot of the people that get the refund will not sell at all, it's all just a FUD considering we're in a bear market, lot of people are just fearful. They have been holding onto it in the first place for how many years now and seeing it bounces to $70k will keep the wondering. Expecting bottom is likely not my idea by now, DCA is the best strategy to keep your money working.