Retail traders entered the market aggressively with leverage over the weekend. When prices turned sour on Monday, this led to a quick liquidation cascade towards $65,000. Is the market now fully deleveraged, or is it more downside liquidation potential?lg...more

In this report, we present a framework aiming to describe which factors are relevant for bitcoin's price discovery, the interplay between them, and how their importance varies over time.lg...more

There are short-term factors like the new U.S. ETFs and the upcoming Bitcoin halving. But the longer-term case rests on larger macro factors, says Torbjørn Bull Jenssen.lg...more