Latest / Adler AM: Bitcoin Morning Brief
Volatility Has Fallen 31% in July, Leverage Is Declining: Liquidation Cascade Risk Has Decreased
This brief examines what is happening inside the volatility compression. Low volatility is neutral on its own - its meaning depends on the direction of positioning. Leverage is currently declining, so the risk of a sharp move amplified by a liquidation cascade is lower than it was a month ago.
The skinny
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