Some traders were positioned for bitcoin leadership after the ether-bitcoin ratio dipped below key support last week. As such, ETH’s market-beating rise has brought rapid adjustment in market positioning, leading to a sharp uptick in the perpetual funding rates or cost of holding long/short positions, Singapore-based QCP capital explained in a note on Telegram. The upside volatility has also led to a significant short covering in ETH front-end call options.
Bitcoin-to-gold ratio risks 35% decline following Wall Street’s $13T wipeout
Bitcoin’s (BTC) value relative to gold (XAU) may be poised for a steep 35% drop as it mirrors historical bear...
