Not really...  The problem is that Genesis doesn't have the BTC to meet their deposit obligations.  That means they need more BTC and don't have enough.  I don't think this will result in a large amount of BTC hitting the market.  Actually, it will probably result in more BTC being taken off the market as those who depended on Genesis to hold their customer deposits will now have to go purchase BTC on the open market to meet their obligations with their depositors.  It's like a game of musical chairs and you don't want to be the guy left with no BTC when the music stops.  A lot of entities that relied on income from Genesis for their operations are now left scrambling to make their customers whole, which means there will be more failures without the price dropping.

The real question is, do you own any BTC or do you think you do?