Bitcoin’s recovery faces rising derivatives exposure and $643 million in ETF outflows
Photo: CryptoSlate
Bitcoin was near $77,000 on October 31 after the selloff around the Binance breach. If you’re now thinking about assessing a recovery, the first thing to look at is whether demand returns without another expansion in outstanding derivatives positions. Forced closures removed positions during the shock, yet a later provider reading showed selected Bitcoin exposure higher in dollar terms. Bitcoin traded at $77,367 on Saturday morning, October 31. Later that morning derivatives showed higher dollar exposure over its 24-hour comparison, while the last completed US spot ETF session recorded redemptions.
Source: CryptoSlate
