respectively, have suffered the wrath of the market. To add to it, the price of BTC has fallen by more than 70% from its all-time high, while the price of ETH has fallen by more than 75% from its all-time high. That being said, the former continues to face greater downside risks.
One might wonder about the reason for the unprecedented price fall. Well, the immense selling triggered by the liquidation of institutions has given way to it. The graph given below highlights this scenario for the largest cryptocurrency.“The continuous wave of selling triggered by the liquidation of institutions had a significant impact on the derivatives market, driving the risk aversion sentiment to remain high for a long time.
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