dropped by over 7% on 24th July’s intraday trading session, following an overall meltdown across US equities that reportedly wiped out over $1 trillion in value.
However, the dump was not entirely unexpected, according to Charles Edwards, founder of crypto hedge fund Capriole Investments. Edwards argued that the ETH ETF was ‘ Per Coinglass data, long positions worth $97.5 million were rekt, while bears only experienced a blip, worth about $4.15 million., from volume to open interest rates, were in red, underscoring bearish sentiment on the futures side of the market.
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