$BTC $USDT : Bitcoin’s recovery faces rising derivatives exposure and $643 million in ETF outflows
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• Higher selected derivatives exposure and ETF redemptions leave the recovery facing a demand test before November 6 payrolls.
• Bitcoin was near $77,000 on October 31 after the selloff around the Binance breach.
• If you’re now thinking about assessing a recovery, the first thing to look at is whether demand returns without another expansion in outstanding derivatives positions.
• Forced closures removed positions during the shock, yet a later provider reading showed selected Bitcoin exposure higher in dollar terms.
#Bitcoin #Institutions
Source - CryptoSlate
━━━━━━━━━━━━━━━━━━━━
• Higher selected derivatives exposure and ETF redemptions leave the recovery facing a demand test before November 6 payrolls.
• Bitcoin was near $77,000 on October 31 after the selloff around the Binance breach.
• If you’re now thinking about assessing a recovery, the first thing to look at is whether demand returns without another expansion in outstanding derivatives positions.
• Forced closures removed positions during the shock, yet a later provider reading showed selected Bitcoin exposure higher in dollar terms.
#Bitcoin #Institutions
Source - CryptoSlate
