Analysts: Bitcoin survived the consequences of the collapse of FTX

Strong demand in the spot market and the closing of shorts in January led to Bitcoin’s biggest rally since October 2021. For the first time since the FTX crash, futures have gone into contango, and exchange outflows have been replaced by inflows. #Bitcoin markets have seen the strongest monthly price performance since Oct-2021. This rally is fuelled by both spot demand, and a sequence of short squeezes We explore these dynamics across derivatives markets, and spot exchanges in our latest piecehttps://t.co/yNWSv2eI2A — glassnode (@glassnode) January 30, 2023 As bitcoin recovered to its highest since August 2022, there were three waves