Bitcoin Bounce Puts Altcoin Bears at Risk
Bitcoin’s bounce amid fears of FTX creditor liquidation might shake out altcoin bears, leading to a sharp rally in recently shorted tokens like solana.
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Bitcoin’s bounce amid fears of FTX creditor liquidation might shake out altcoin bears, leading to a sharp rally in recently shorted tokens like solana.
Despite today’s market-wide advance, the outlook for risk assets is pointing to softer prices for the next few weeks, one observer noted.
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Court documents from last November give a rough picture of the lender’s altcoin holdings.
Cryptocurrencies Cardano (ADA) and Solana (SOL) fell more than the broader crypto market on Tuesday, just before trading app Robinhood was set to delist them later in the day at 6:59 p.m. ET.