Garrett Jin: Still bearish, recent price rebound mainly driven by excessive long leverage
Foresight News reported that Garrett Jin, the whale who previously made headlines by selling over $4.23 billions worth of BTC to rotate into ETH, tweeted, "I am still bearish at the moment. The recent price rebound has been mainly driven by excessive long leverage. The flash crash on October 11 wiped out most leveraged investors. Unless exchanges establish stabilization funds to restore market confidence, a sustained rally is unlikely to occur."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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