"likely due to [the] unwinding of leverage post the Fed rating decision."
""magnified" the market decline."
"A tone of bearish exhaustion has begun to set in,"
Traders lost $1.62 billion in bullish bets within 24 hours as crypto prices declined. Bitcoin fell 2.3% to below $113,000 while Ethereum dropped almost 7% to just under $4,200. Total crypto market capitalization fell nearly 4% to about $3.9 trillion. Kaiko attributed the decline to the unwinding of leverage after the Federal Reserve decision and noted lower weekend volumes magnified the drop. The S&P 500 rose 0.15% on Monday. Bitwise observed a tone of bearish exhaustion as Bitcoin slipped below its 50-day moving average of about $115,000.
Read at Fortune Crypto
Unable to calculate read time
Collection
[
|
...
]