Bullish AF: Bitcoin At $42K, Comparing Today’s Leverage With That Of February
Bitcoin reached $42K before, but not with these characteristics. The market seems healthy and practically unleveraged. Greed is just showing its face after months of Fear. How did we get here? Calmly and consistently stacking sats, that’s how. What does this mean for the future of BTC’s price? Is the rocket about to take off? Related Reading | Volatility Inbound: Bitcoin Traders are Upping Their Leverage as Election Nears Before going into that, let’s look at the chart from Bitcoin Magazine’s Dylan LeClair. It gives the US Central Bank balance sheet a run for its money as the most....
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A reading of Nic Carter’s latest essay for CoinDesk on the inappropriateness of comparing the energy consumption of bitcoin and Visa transactions.
Bitcoin is about as innovative of a technology as it gets. It quite possibly is the most important technology to ever exist, potentially more impactful than the internet before it. Without the internet, cryptocurrencies might never exist, but Bitcoin could forever change the face of money – and with it, control. As powerful and potentially […]
Bitcoin (BTC) is showing strikingly bullish patterns as its price hovers around the $97,000 mark. Technical analysis points to a rare symmetry in Bitcoin’s price action, comparing the pioneer cryptocurrency to past trends and predicting a sharp move to new all-time highs. Bitcoin Price Action Mirrors Bullish Symmetry Patterns A detailed Bitcoin price analysis by […]
FTX CEO Sam Bankman-Fried told his Twitter followers on Sunday that his crypto exchange has lowered its margin trading limit from 101x to 20x. Prior to the change, FTX supported 50x, 100x, and 101x leverage but Bankman-Fried said these high leverage positions represent “a tiny fraction of volume.” FTX CEO Announces Cutting Leverage Limits, 2x Leverage the Most Common FTX customers will have to adjust to changes as the crypto-asset exchange has dropped its max leverage rate from 101x to 20x this weekend. Of course, the formerly supported 50x, 100x, and 101x positions are....
Crypto analytics provider Glassnode argues the late February BTC crash may have been a healthy reset that flushed excessive leverage out of the market. According to on-chain analytics provider, Glassnode, the late-February crypto market correction may have purged excessive leverage from the markets.On March 1, Glassnode published a report analyzing the recent crypto crash — which was only the second significant crypto correction since the markets pushed into new record highs in late 2020.Glassnode noted the crash peaked with a 25% fall from the local top of $58,300 to $43,343. As such, the....