sullytrades on Nostr: The drawdown triggered the largest leverage washout in a month, liquidating some $850 ...
The drawdown triggered the largest leverage washout in a month, liquidating some $850 million of leveraged derivatives trading positions across all digital assets, CoinGlass data shows. Some $770 million of those positions were longs betting on rising prices, caught off-guard by the sudden decline.
The dip occurred as stock markets sank during the U.S trading session amid rising fears of broadening conflict in the Middle East, as U.S. authorities warned that Iran could prepare to launch a significant attack on Israel.
Digital asset investment firm Ryze Labs, formerly Sino Global Capital, said in a Friday commentary to anticipate some "short-term market softness" for crypto assets due to the upcoming tax season. However, it maintained a more constructive long-term outlook, expecting relief for the asset class as policymakers will slow quantitative tightening and potentially adjust monetary policy to facilitate U.S. government debt rollovers.
The dip occurred as stock markets sank during the U.S trading session amid rising fears of broadening conflict in the Middle East, as U.S. authorities warned that Iran could prepare to launch a significant attack on Israel.
Digital asset investment firm Ryze Labs, formerly Sino Global Capital, said in a Friday commentary to anticipate some "short-term market softness" for crypto assets due to the upcoming tax season. However, it maintained a more constructive long-term outlook, expecting relief for the asset class as policymakers will slow quantitative tightening and potentially adjust monetary policy to facilitate U.S. government debt rollovers.