Bitcoin and Altcoins Recover After $500B Crash
The crypto market staged a recovery on Monday following the weekend’s $500 billion bloodbath that resulted in a $10 billion drop in open interest.
Bitcoin rose by 1.4% while ether outperformed with a 2.5% gain. , meanwhile, stole the show with a 120% rally as traders anticipate “perpetual wars” between the decentralized trading venue and HyperLiquid.
Plasma and aster both failed to benefit from Monday’s recovery, losing 4.2% and 2.5% respectively.
Derivatives Positioning
- The BTC futures market has stabilized after a volatile period. Open interest, which had dropped from $33 billion to $23 billion over the weekend, has now settled at around $26 billion. Similarly, the 3-month…
