Monthly market Wrap-Up: Low volatility and shorts in the squeezer

October is done and dusted, and crypto markets still remain largely idle in the burdensome depths of the crypto credit crisis over the summer. Price-wise, we’ve seen no material changes from last month, but under the hood, the market is a-changing.

Short term

Bitcoin is currently priced attractively, but the trading range holds firm. In the current regime, the most prudent approach is to participate through spot market purchases.

Leverage is declining in force, but the trading range holds firm, and leverage is still very high, leading the potential of ripping squeezes to remain elevated. With these tendencies in mind, traders should still avoid leverage and prioritize incentivized dollar cost averaging at attractive prices.

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