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Crypto-crash aftershocks hit traders with 50pc premiums vanishing – The Australian Financial Review
Hedging activity is on the rise and bullish bets are finding limited demand – rare times of restraint among day traders.
Its now collapsed to just 9 per cent, according to data provider Skew, which tracked rolling three-month contracts on crypto exchange Binance.
Volume in derivatives typically exceeds spot activity on most days, on strong demand to speculate with easy-to-trade instruments that offer leverage — often 100 times — to boot. All that means bulls almost always outnumber bears.
Now, crypto conviction is falling. Support from bitcoins star promoter Elon Musk has wavered and there are new regulatory hurdles…
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