Bitcoin Leverage Remains High – Data Reveals Selling Pressure Above $93K
After a historic rally, Bitcoin has faced its first major setback, pulling back 7% from its all-time high of $99,800. This comes after an impressive surge from $67,500 on November 5, marking a nearly 50% climb in just a few weeks. The price action has largely been “only up,” attracting significant attention from traders and investors alike. Related Reading: Ethereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance However, the current pullback highlights growing caution in the market. Market caution said leverage levels remain elevated despite recent deleveraging....
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On-chain data shows the Bitcoin futures market has remained heated recently as leverage taken on by investors has been quite high. Bitcoin Estimated Leverage Ratio Declines A Bit, But Still Remains Very High Following the rise in derivative activities, the leverage in the market hit a new all-tine high recently, as noted by an analyst in a CryptoQuant post. The “all exchanges estimated leverage ratio” is an indicator that’s defined as the ratio between the open interest and the derivative exchange reserve. When the value of this metric is high, it means the average....
On-chain data shows Bitcoin investors have been afraid to take risk recently as the leverage ratio has remained low in the last few days. Bitcoin Leverage Ratio Remains Low In Past Few Days As pointed out by an analyst in a CryptoQuant post, investors haven’t taken much risk since the surge in the crypto’s price a few days back as leverage in the market is low at the moment. A relevant indicator here is the “open interest,” which shows the total amount of Bitcoin futures contracts currently open on all derivatives exchanges. The “estimated leverage....
Bitcoin has witnessed some massive selling pressure throughout the past day that has erased all the gains that came about as a result of the “Elon Musk” pump a few days ago The selling pressure seen has come from a combination of spot and derivatives, with investors generally going risk-off It remains unclear what the […]
Dogecoin is currently trading marginally below the yesterday's level of 47.1 satoshis. The cryptocurrency had surged to a level of 48.9 satoshis before profit booking and selling pressure brought the price down to 47 satoshis, which is closer to the floor value of 46.3 satoshis. Putting the 240-minute Dogecoin/Bitcoin price chart under a technical lens reveals that the cryptocurrency may continue to face more pressure going ahead unless, bulls stage a powerful comeback. Dogecoin Chart Structure - As can be seen from the chart above, Dogecoin recently made an attempt to scale higher, but....
Litecoin price stalled around the $3.30 area. It is currently under a lot of bearish pressure that could result in a sharp downside move. Major Support Level (HitBTC) can be $3.10. Crucial Resistance Level (HitBTC) may be $3.18. Litecoin price after trading as high as $3.20 (data feed via Bitfinex) found resistance and started to move down. There was a lot of selling pressure noted, which resulted in a continuous downside move. There is a bearish trend line formed on the 30-min chart (data feed via Bitfinex), as highlighted in this past week’s analysis. We sold a couple of times around the....