Still, he did mention that the market’s depth had declined following a string of liquidations.
Younger also noted that extreme volatility was mainly limited to North America.
On May 19, Bitcoin tanked to $30,000, enduring its worst collapse since the pandemic-driven crash in March 2020.
Particularly, he pointed to the rapid rise of highly risky non-blue chip cryptocurrencies.
Weisenthal has commented that growing institutional adoption might prevent another bear cycle.