Wintermute: Excessive leverage has been largely purged from crypto market

Excessive leverage in the cryptocurrency market has been largely resolved, according to an analysis by crypto market maker Wintermute. The firm noted that consistent BTC purchases by Strategy have also eased potential selling pressure. However, Wintermute cautioned that demand from major buyers like ETFs and Strategy has weakened considerably compared to the past. If the structure of capital inflows does not improve, the market is likely to remain range-bound for the foreseeable future, the firm added.