How crypto-native leverage drove Bitcoin sell-off while ETFs barely flinched
NegativeCryptocurrency

Recent analysis by JPMorgan reveals that the significant sell-off of Bitcoin and Ethereum was primarily driven by crypto-native leverage rather than institutional investors pulling out. This is important because it highlights the volatility in the crypto market, where perpetual futures markets experienced sharp deleveraging, causing Bitcoin's price to drop by over 13% in just two weeks. Despite this turmoil, spot ETFs and CME futures showed resilience, absorbing minimal forced selling, which suggests that institutional interest remains stable even amid market fluctuations.
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