it may have a lil bit of impact but if other positive news will come out, this negative news will be masked by good ones. and so the market may just move on. unless, they will be dumping a lot of btc in the market, but they are not. i guess, it is only their time to file for bankruptcy. i have used genesis mining services before. with all the troubles they have encountered in the previous years, i believe, they are indeed going into this bankruptcy state
They are not going bankrupt, they are already and have filed for bankruptcy. When Three Arrows Capital, Alameda Research and ftx all collapsed, it was sure that Genesis would too because it was exposed to all of these companies that bit the dust. I don't think there have been any impact of Genesis' collapse on BTC's price, Genesis have filed for bankruptcy and BTC is still in its mini recovery phase, just one negative news cannot have too much impact on BTC's price, it is usually a combination of many events that affects the price of BTC, and i think it is time for people to stop spreading fear because of Genesis' file for bankruptcy.
So far, it can be affirmed that the collapse of genesis has not had any effect on the market, the market is doing well even when this news comes out. But also have to add one thing genesis is not as big as FTX or Luna, so it may not affect the market, or information about the bankruptcy of genesis does not seem too difficult to predict because the news about them has been going on for many months.