“Because of the current market situation,” new entrants to the crypto market are “kind of hesitant,” Wang said; they either start with small trades as a test, or they open an account and wait for their preferred market conditions. So Metalpha is focusing on existing clients, mostly from the crypto space who are “very hungry for hedging solutions because they lost a lot of money [in this bear market]. Some of them are afraid that if the market continues to behave like this, they need to protect themselves,” he said.
What Next For Bitcoin (BTC)? Traders Call For $74,000 as ETFs See Continual Inflows
“Bitcoin was pulling back towards $65K on Thursday but is already trying to regain its footing above $66K on Friday...