PANews reported on October 15 that according to CoinDesk, Vetle Lunde, head of research at K33, pointed out that although the rebound after last week's flash crash lost momentum on Tuesday, the current decline is a constructive setup and Bitcoin has stabilized after a major leverage reset. In his report on Tuesday, he said that after the recent leverage liquidation, he is constructively optimistic about BTC, but he must remain patient. He pointed out that traders are recovering from forced selling and short-term liquidity may remain low, but such leverage liquidations often mean that the market has bottomed out. He also said: "The current price is very attractive and suitable for increasing BTC spot positions because leverage has been largely cleared. Coupled with a favorable background including expectations of loose policies, high institutional demand and ETF-related catalysts, the current situation is conducive to the gradual accumulation of Bitcoin."PANews reported on October 15 that according to CoinDesk, Vetle Lunde, head of research at K33, pointed out that although the rebound after last week's flash crash lost momentum on Tuesday, the current decline is a constructive setup and Bitcoin has stabilized after a major leverage reset. In his report on Tuesday, he said that after the recent leverage liquidation, he is constructively optimistic about BTC, but he must remain patient. He pointed out that traders are recovering from forced selling and short-term liquidity may remain low, but such leverage liquidations often mean that the market has bottomed out. He also said: "The current price is very attractive and suitable for increasing BTC spot positions because leverage has been largely cleared. Coupled with a favorable background including expectations of loose policies, high institutional demand and ETF-related catalysts, the current situation is conducive to the gradual accumulation of Bitcoin."
K33 Research Director: Large-scale leverage liquidation is conducive to Bitcoin asset accumulation
PANews reported on October 15 that according to CoinDesk, Vetle Lunde, head of research at K33, pointed out that although the rebound after last week's flash crash lost momentum on Tuesday, the current decline is a constructive setup and Bitcoin has stabilized after a major leverage reset. In his report on Tuesday, he said that after the recent leverage liquidation, he is constructively optimistic about BTC, but he must remain patient. He pointed out that traders are recovering from forced selling and short-term liquidity may remain low, but such leverage liquidations often mean that the market has bottomed out. He also said: "The current price is very attractive and suitable for increasing BTC spot positions because leverage has been largely cleared. Coupled with a favorable background including expectations of loose policies, high institutional demand and ETF-related catalysts, the current situation is conducive to the gradual accumulation of Bitcoin."
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