Understanding Bitcoin's Recent Volatility: Insights from Crypto Expert Scott Melker
Wednesday, 6 March 2024, 22:26
Bitcoin Volatility Explained
Insights from Scott Melker
Bitcoin (BTC-USD) exhibited notable volatility on Tuesday, including a significant sell-off and subsequent recovery. Scott Melker, host of The Wolf Of All Streets podcast, emphasized the importance of staying calm and zooming out amidst market turbulence. He described the sell-off as a necessary adjustment to clear accumulated leverage.
- Key Points:
- Normal Event: The market experienced a typical flush of leverage, resulting in a $1 billion liquidation of Bitcoin positions.
- ETF Influence: The approval of Bitcoin Spot ETFs led to heightened market turbulence, driven by massive daily inflows.
For more detailed insights, watch the full episode on Yahoo Finance Live.
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