TechFlow reports, cryptocurrency research firm 10x Research analyzed that the Depository Trust & Clearing Corporation (DTCC) announced it will no longer assign any collateral value to ETFs or other investment instruments with Bitcoin or other cryptocurrencies as underlying assets, effective April 30. Such assets will be treated as 100% discounted, meaning market makers will need to post more margin.
10x Research noted that Bitcoin prices are making lower highs, suggesting a new downtrend may be forming. Against this backdrop, DTCC's announcement could have significant implications.
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