Split Capital Founder: Continuation of Cryptocurrency Sell-Off “Could Depend on Further Escalation of Geopolitical Tensions in the Middle East”
Golden Finance reported that the cryptocurrency market saw a broader decline as escalating geopolitical tensions in the Middle East triggered risk aversion. Zaheer Ebtikar, founder of cryptocurrency fund Split Capital, said the continuation of the cryptocurrency sell-off “may depend on further escalation.” Tensions hammered stocks on Friday, boosting safe-haven assets such as bonds and the dollar. About $1.5 billion in bullish cryptocurrency bets through derivatives were unwound on Friday and Saturday, Coinglass data showed, one of the highest two-day unwinding levels in at least six months. Ebtikar said leverage “has been completely overwhelmed over the past three days, which has resulted in a material deterioration in digital asset prices.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gurman predicts iPhone Duo: The first foldable may set industry standards, Apple (AAPL.US) foldable could trigger a decade-long upgrade cycle
Renowned financial journalist Mark Gurman stated that Apple’s first foldable iPhone has the potential to elevate the still-experimental foldable phone category to an industry standard. He noted that this device, called the iPhone Duo, is one of Apple’s most influential products, ranking just behind the iMac, iPod, iPad, and Apple Watch.
Anchoring to Nasdaq! Anthropic races toward a record-breaking IPO with fundraising scale targeting SpaceX
Sources indicate that Anthropic PBC has chosen Nasdaq as its listing venue, and the potential IPO is expected to set a historic record.
10-Yr Benchmark Govt Yields - U.S. vs Other Nations
2-Yr Benchmark Govt Yields - Germany vs Other Nations
Crypto prices
More
