Bitcoin plunges to 2-month lows as long liquidations squeezes OI to 3-month lows. We expect news-driven volatility onwards and make the case for increased exposure in ETH.
Liquidation cascade sends BTC to 2-month low
Bitcoin collapsed to pre-ETF filing lows on Thursday as the market saw its fifth-largest relative daily decline in open interest since March 2021. Leverage now sits at 3-month lows, reducing the market’s exposure to near-term squeezes, but multiple
Bitcoin still struggles to find any directional momentum as prices remain glued to $29k. Nonetheless, we are likely near a decision in the Grayscale vs. SEC lawsuit, which should ignite significant volatility, time to straddle up?lg...more