DEXE Prices Plummet as Whales Defend $12 Support

The cryptocurrency market has experienced a cooldown, but DEXE [$DEXE] has shown pronounced weakness, trading in a steep downtrend from $16 to a low of $11. At press time, $DEXE traded at $12, down 11.5% on the daily charts.

A closer look at Futures Retail Trading Activity data from CryptoQuant reveals that retail traders have largely dominated the futures market over the past week. However, with the price uptick, this group started closing positions, leading to significant capital outflows from Futures positions.