🔸 $BTC has just slipped below $88k, but the most catastrophic is the Crypto stock segment as MSTR and ETHZilla have simultaneously evaporated from 4% to 16%. The main reason is the tax-loss harvesting strategy employed by investors at the end of the year. Big players are taking advantage of liquidating losses to improve financial reports, putting heavy selling pressure on the market even though Gold and Nasdaq are still thriving.
🔸 Open Interest of $BTC and $ETH has evaporated by 3 billion and 2 billion USD respectively, making the market more fragile than ever. However, QCP Capital reassures that this is just seasonal volatility, and the market is likely to recover when the money flow returns in January.
At the end of the year like this, have you guys reorganized your portfolio yet?
This article is for reference only, this is not investment advice. Please read carefully and consider thoroughly before making a decision.