Glassnode: This Correction Is Primarily Driven by the Spot Market, Not the Derivatives Market
According to ChainCatcher, data from analytics platform Glassnode shows that despite Bitcoin dropping by 3.2% and Ethereum falling by 6%, the scale of market liquidations has remained relatively low, at only $110 million and $132 million respectively. Open interest has seen a slight pullback, indicating that this round of correction is mainly driven by the spot market rather than the derivatives market.
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
Mortgage rates return to 7%, pending home sales in the US fall to nearly a twelve-year low
According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.
Mueller Water Products names Michael Morgan CFO, succeeding Melissa Rasmussen
GLD ETF Falls 0.6%
JPMorgan’s tokenized funds on Ethereum hold $844 million
Crypto prices
More
