Bitcoin Market Resets With 28% Deleveraging — What Next?
At the beginning of February, the price of Bitcoin tumbled to a new low not seen since US President Donald Trump got elected in November 2024. This downside volatility is believed to have been precipitated by the overleveraging in the BTC market at the time. According to the latest on-chain data, the Bitcoin derivatives market has witnessed a massive flush-out over the past week. BTC Market Now At Reduced Risk Of Liquidation Cascades In a fresh Quicktake post on the CryptoQuant platform, trader CryptoOnchain revealed a dramatic flush-out in the Bitcoin derivatives market on Binance, the....
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A strategist at JPMorgan predicts that the worst of the bear market could be over as stronger crypto firms have come in to bail out the industry in the midst of major deleveraging. The historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of the bear market, according to a JPMorgan analyst.In a Wednesday note, JPMorgan strategist Nikolaos Panigirtzoglou highlighted increased willingness of firms to bail out companies, and a healthy pace of venture capital funding in May and June as the basis for his optimism. He said key....
Ethereum, the second-largest cryptocurrency by market capitalization, is currently in freefall. Over $124 billion in capital vanished from the Ethereum (ETH) decentralized finance (DeFi) in six weeks. Seven months ago, ETH reached its highest value ever at $4,891.70 on November 16, 2021. But it is now trading at around $1,100, which is less than 75.2% of its all-time high value. Related Reading | Controlling The Chaos: FTX Exchange Bails Out BlockFi With $250M The start of 2022 was unstable for the cryptocurrency market, particularly ETH, but in previous weeks, things have become much....
Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000.
JPMorgan on FTX and Bitcoin’s Price
JPMorgan Chase’s analysts, led by global market strategist Nikolaos Panigirtzoglou, provided their analysis of the FTX situation and a price prediction for bitcoin in a note Thursday.
The analysts explained that fewer....
Bitcoin’s sharp slide to $81,119 on January 30 came with a derivatives-market gut punch: forced long closures spiked to extreme levels, yet perpetual funding stayed decisively positive. That mix is complicating a common read, whether the market has already “cleansed” leverage or is still set up for repeat liquidation waves. Is The Bitcoin Deleveraging Over? On-Chain analyst Axel Adler Jr., in his Morning Brief, pointed to a “cascade of forced closures” over the past 24 hours, with long liquidations dominating the tape. His liquidation dominance oscillator tracking the balance of long....
Ethereum has fallen below the $4,000 level for the first time since early August, marking a significant shift in market sentiment. After weeks of strong performance, ETH has now lost nearly 20% of its value since September 13, leaving many traders concerned about the next move. The broader market correction has fueled uncertainty, but some analysts argue this is a necessary reset that could prepare the ground for renewed growth. Related Reading: 11 Wallets Receive 295,861 Ethereum ($1.19B) From Major Institutions: Accumulation Or OTC Shuffle? Top analyst Darkfost highlights that Ethereum’s....