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Crypto's Leverage Wipeout

An over-leveraged crypto market got rekt. Time to lever up?
Crypto's Leverage Wipeout
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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?

Bitcoin’s sudden 15% drop was felt around the market yesterday, but the decline was even more pronounced in alts, where tokens like SOL fell 26% and zeitgeisty memecoins like WIF tanked nearly 50%!

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Jack Inabinet

Written by Jack Inabinet

498 Articles View all      

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 apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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