Mt. Gox will almost certainly have a negative impact on the cryptocurrency market in the short term. The payout of approximately 141,686 bitcoins to affected customers could create significant selling pressure, especially if many players decide to quickly offload their holdings. This could lead to a temporary decrease in the BTC price and trigger heightened market volatility.
That said, the influence of Mt. Gox on the market will most likely be short-lived. After the initial shock and possible price correction, the market will most likely adapt to the new situation. It should be noted that the payouts will be made gradually rather than all at once, which may soften the impact. Additionally, not all recipients may be willing to sell their bitcoins immediately, especially if they believe in the cryptocurrency's long-term potential.
Longer term, the Mt. Gox payout may even have a positive impact on the cryptocurrency market. The completion of this protracted process could boost investor confidence in the cryptocurrency industry by showing that even in the face of serious headwinds, mechanisms are in place to protect users' interests. Once the payments are completed and the market stabilizes, this could lead to increased confidence as well as interest in bitcoin and other cryptocurrencies.