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Glassnode report: Bitcoin's 32% plunge marks a mid-term market downturn
Glassnode's Weekly On-Chain Insights study highlights the severity of the recent market decline, linking it to the "correlation-1" event that caused major assets and stocks such as Bitcoin to plunge. According to Glassnode, the event caused the Bitcoin spot price to reach a key psychological level of $51,400 and triggered the unpositioned squaring of Bitcoin futures contracts overnight.
2024-08-07 23:58:46
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