Ponke_kong
Golden Finance, Glassnode's weekly on-chain insights report highlights the seriousness of the recent market downturn and attributes it to the "correlation-1" event, which suggests that major assets like BTC and stocks should experience a "big drop". According to Glassnode, the event caused the BTCSpot price to reach a critical psychological level of $51,400, triggering a significant 11% drop in BTC futures contracts for the Position Close contract overnight. The report also shows that only 7% of short-term holder supply remained profitable, a figure not seen since FTX's crash in 2022, indicati
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