Glassnode: This Correction Is Primarily Driven by the Spot Market, Not the Derivatives Market
According to ChainCatcher, data from analytics platform Glassnode shows that despite Bitcoin dropping by 3.2% and Ethereum falling by 6%, the scale of market liquidations has remained relatively low, at only $110 million and $132 million respectively. Open interest has seen a slight pullback, indicating that this round of correction is mainly driven by the spot market rather than the derivatives market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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