"Virtual assets, a healthy correction phase"

JH Kim

Summary

David Shimmer conveyed that the current virtual asset correction is being evaluated as healthy.
He explained that Bitcoin remains a core asset for institutional investors, and profit-taking is normal.
Recently, virtual asset futures positions exceeding $1 billion were liquidated, primarily from long positions.

According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), on the 14th (local time), David Shimmer, co-founder of Wave Digital Asset, assessed, "This correction is healthy."

He said, "Bitcoin (BTC) remains a core asset in institutional investors' virtual asset strategies, and it is perfectly normal for profit-taking to occur after a sharp rise."

Joel Kruger, market strategist at LMAX Group, also stated, "Profit-taking activity is not surprising," adding, "The overall market outlook is very positive, and the downtrend will soon come to an end."

Meanwhile, virtual asset futures positions worth over $1 billion have been liquidated in the past 24 hours, most of which were long positions.