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Crypto's Leverage Wipeout

An over-leveraged crypto market got rekt. Time to lever up?

Jack Inabinet
Mar 6, 2024 • 2 min read

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Welcome to Today in Markets, where we dig into the hottest trends and assets in crypto, highlighting investable opportunities for our paying Bankless Citizens.

📊 Quick Take

Nature is Healing. Crypto prices are back on the offensive after yesterday’s broad market pullback, with Bitcoin gaining 4.5% to yet again position itself within reach of achieving new all-time highs!

For the past week, crypto markets had been signaling that prices were overextended and due for a correction, and yesterday’s leverage wipeout facilitated the much anticipated return to equilibrium. Should you take the opportunity to get long?

🧐 The Alpha

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.