Potential impact of DTCC statement on Bitcoin market: expert opinion analysis
With the Depository Trust and Clearing Corporation (DTCC) announcing that it will no longer provide any collateral value for ETFs or other investment vehicles that include Bitcoin or other cryptocurrencies as underlying investment targets starting April 30, market research firm 10x Research analyzed the future trend of Bitcoin prices and pointed out that the statement may have a significant impact on the market.
DTCC's decision means that market makers need to provide more margin for investment vehicles that include cryptocurrencies, as the relevant assets will be considered 100% written down. This move may lead to an increase in the cost of funds for market makers, thereby affecting market liquidity and trading activities.
10x Research pointed out that Bitcoin prices are currently making lower highs, suggesting that a new downward trend is forming. In this case, DTCC's statement may increase market uncertainty and further suppress Bitcoin prices.
