Crypto Assets Correct Sharply As Geopolitical And Macro Risks Return and Leveraged Traders Record Heavy Losses
mattersofmoney.substack.com
It has been a brutal week for crypto assets after a massive decline over the weekend occurred following the attack on Israel by Iranian suicide drones and ballistic missiles. While the attack generated little damage and had little immediate impact on crypto in general, the event became the catalyst for a large decline in crypto assets. Altcoins took the brunt of the selling with a massive deleveraging event that whipped out 10 billion (or 50%) of total altcoin open interest, which resulted in $850 million in liquidations over the weekend.
Crypto Assets Correct Sharply As Geopolitical And Macro Risks Return and Leveraged Traders Record Heavy Losses
Crypto Assets Correct Sharply As Geopolitical…
Crypto Assets Correct Sharply As Geopolitical And Macro Risks Return and Leveraged Traders Record Heavy Losses
It has been a brutal week for crypto assets after a massive decline over the weekend occurred following the attack on Israel by Iranian suicide drones and ballistic missiles. While the attack generated little damage and had little immediate impact on crypto in general, the event became the catalyst for a large decline in crypto assets. Altcoins took the brunt of the selling with a massive deleveraging event that whipped out 10 billion (or 50%) of total altcoin open interest, which resulted in $850 million in liquidations over the weekend.