As Bitcoin and the broader crypto market witnessed a sell-off Wednesday, MN Trading founder Michaël van de Poppe advised against taking excessive risks with leverage and recommended maintaining low-limit bids.
Highest liquidation in 2 years
In a post on X, Van de Poppe said, “Massive liquidations today, the largest for #Altcoins in the past two years. Unlikely it will happen again tomorrow or the day after,”
While Van de Poppe is not expecting a repeat of this scenario, the Bitcoin spot market has shown a slow recovery. Simeon Hyman, global investment strategist at ProShares, highlighted spot market issues during a recent Bloomberg TV interview.
He pointed out the price discrepancies of Bitcoin across various exchanges and the inherent risks of these platforms. The strategist raised concerns about the daily settlement processes of Bitcoin futures, which rely on a blend of prices, and expressed skepticism about the practicality of cash creation and redemption mechanisms in this con
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