The demise of cryptocurrency exchange FTX derailed an emerging positive situation in cryptocurrency markets after the significant deleveraging of May and June left few, if any, large, marginal sellers in the digital assets space, according to Coinbase (COIN) in a research report released Tuesday. The new turbulence In the cryptocurrency market, combined with a lack of large buyers, has left the sector vulnerable, potentially prolonging what has already been a long crypto winter, according to analysts David Duong and Brian Cubellis. The FTX bankruptcy proceedings will be closely watched, but the path of interest rates in the United States remains crucial for the digital assets sector, according to the report.
