Funding Rates of Bitcoin Perpetual Futures Plummet Amid BTC Price Slide

Solana (SOL), Cardano (ADA) and Polygon (MATIC) Lead Cryptocurrency Crash After SEC Suit Against Binance and CZ

“For BTC, option sellers were short too many put options, for more investors were previously bullish, selling put options to finance buying call options to reduce costs. So the sudden and unexpected price drop lead to hedging behavior, catalyzing deeper decline,” Griffin Ardern, volatility trader from crypto asset management firm Blofin, said.

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