Glassnode: This Correction Is Primarily Driven by the Spot Market, Not the Derivatives Market

According to ChainCatcher, data from analytics platform Glassnode shows that despite Bitcoin dropping by 3.2% and Ethereum falling by 6%, the scale of market liquidations has remained relatively low, at only $110 million and $132 million respectively. Open interest has seen a slight pullback, indicating that this round of correction is mainly driven by the spot market rather than the derivatives market.