@serapharc
Strictly speaking, we’re still technically in the weekend, so this drop looks more like it’s being driven by the futures market. CB spot volume hasn’t seen any significant uptick, and spot premiums haven’t dropped much either.
If you look at open interest in the futures market, the main reason for this natural downtrend is excessive leverage. Even though the price has pulled back to 114k, OI is still hovering around the previous 118k–119k levels.
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