Sep. 27 at 2:29 AM
Crypto lost
$300B in value this week as leveraged longs unraveled, driven by cascading liquidations, ETF outflows, & a sharp pullback in institutional participation.
• BTC ETFs saw
$860.3M net outflows this week
• ETH ETFs saw
$595.9M net outflows this week
•
$ETH -18.73% from high, below 9/21/50DEMA
•
$BTC -13.46% from high below 9/21/50DEMA
• Corporate treasury buying plunged -76% since summer from 64K BTC in July to 15.5K BTC in Sept
Glassnode: Options markets repriced aggressively, with skew surging & puts in high demand, signalling defensive positioning. Combined w/ peak gamma conditions, the macro backdrop suggests a market increasingly exhausted.
Together, these signals suggest a market running out of fuel, w/ liquidity-driven swings dominating.
BTC below
$109,000 has been interpreted by some market watchers as a sign of overheating & a potential shift into a slowdown phase
$FBTC was the hardest hit among BTC ETFs
$FETH was the hardest hir among ETH ETFs
$IBIT