The crypto exchange’s demise cleaned up the final tranche of “toxic crypto leverage” and taught digital-asset investors the importance of decentralization and self-custody wallets, Bernstein said. Macro catalysts are aligning for bitcoin, the world’s largest cryptocurrency by market cap, the note added, with continued weakness in U.S. regional banks and further deposit outflows toward money market funds and the big four U.S. banks all reflecting concerns around the “centralization of money.
The shaded region represents alt season – a crypto slang for periods a period where ether and other altcoins like
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