One Year Since Crash, Most Leverage Leaves Bitcoin
Dow Jones10-12 18:48
1047 GMT - Most leverage has left bitcoin and migrated to other cryptocurrencies in the year since the flagship coin's historic price crash, CoinMarketCap analysts say. October 10 marked one year since bitcoin tumbled from $122,000 to $105,000 in minutes as highly leveraged positions collapsed. CoinMarketCap found that open interest in global crypto assets--the amount of derivatives contracts still open--rose 15% this week, while bitcoin's open interest fell 6%. "A year after the 10 October crash, the market owns bitcoin in spot and barely owns it on leverage. The gearing has migrated to altcoins," writes Alice Liu, head of research at CoinMarketCap. Bitcoin is 0.2% lower at $83,450.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments