Analysts Say Crash Was ‘Controlled Deleveraging’
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Despite panic in the market, blockchain data shows the sell-off may have been more orderly than feared. Analyst Axel Adler Jr (CryptoQuant) said 93% of the $14B open interest decline was “controlled deleveraging, not cascading liquidations.” Only $1B in Bitcoin longs were liquidated — a “mature moment for BTC,” he noted.