Strong price swings settled $940 million in advanced derivatives positions on digital assets in the last 24 hours, CoinGlass data showed, the largest amount since the market closed on the fifth day. August, before the market unraveled, Japanese stock trading that day briefly brought BTC below US$50,0.
Cryptocurrency prices have weakened since Donald Trump’s decisive victory in the US elections. last week This is because investors are flocking to the asset class in anticipation of more favorable regulations for cryptocurrencies. Including the slowdown in inflation. strong economic growth and global financial easing It has a positive effect on risky assets.
“More than investors These institutions were incentivized by the government’s signature,” Nathan McCauley, CEO and co-founder of digital asset custodial provider Anchorage Digital, said in an emailed note. “The prospect of government support for crypto next year is proving to be an institutional catalyst – like we have never seen before.”