FLASH: Bitcoin healthy cool off over weekend resets margin leverage but does not signal end of bull market as “Dogecoin” retail traders are now entering the market

Bitcoin made new ATHs last Wednesday as investors piled in ahead of the Coinbase IPO. As we mentioned in our note last Friday (click this link), we thought a “crypto cooling off would be heathy” – and that’s what we got over the weekend.

Source: FSInsight, Glassnode

Futures open interest saw a significant drop alongside price

Bitcoin futures open interest, which had been rising with the price, saw an even steeper correction over the weekend starting Saturday night as the ma...

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