Looking at Bitcoin and Ethereum derivatives shows that they have been affected by the FTX fallout, with data analyzed by CryptoSlate showing that over 160,000 BTC has been unwound since the beginning of October. This data indicates that roughly $3 billion worth of futures contracts have been closed out in two months. Cryptocurrency derivatives are an indicator of the overall health of the market and also serve as a pointer to where prices might head next, as they show the amount of leverage the market is sitting on.
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Research: Bitcoin, Ethereum derivatives are unwinding
Data analyzed by CryptoSlate showed that roughly $3 billion worth of Bitcoin derivatives positions have been closed out in two months.
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