Catching a falling knife
After a steady decline, pushing BTC to 7-month lows, notional perp OI has resurfaced at yearly highs, marking its largest 1-week growth since April 2023. New squeezes inbound?
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Catching a falling knifeThe sell-off accelerated over the last week, with BTC experiencing a weekly loss of 14%, enduring a steady decline, and pushing prices to lows not seen since April, at $89,183. BTC has traded in a highly correlated environment with Nasdaq over the past month, while underperforming the tech index consistently amid relative weakness.Massive ETF outflows have added fuel to the fire in BTC’s continued sell-off, as six out of the past seven trading
