JPMorgan: crypto-native leverage drove sell-off; ETFs barely flinched
JPMorgan attributes the latest Bitcoin (BTC) and Ethereum (ETH) sell-off to crypto-native leverage moderately than institutional exits, noting that spot ETFs and CME futures absorbed minimal pressured promoting whereas perpetual futures markets confronted sharp deleveraging throughout each belongings. Bitcoin fell 13.1% from $122,316 on Oct. 3 to $106,329 by Oct. 17, whereas perpetual open curiosity…
