Bitcoin leverage wiped clean: analyzing the 5th biggest week in liquidations YTD, its market implications

quick take

• Bitcoin (BTC) Futures Open Interest (FOI) is the total amount of funds (in USD value) allocated to open futures contracts.
• Currently 334,000 Bitcoin Allocated to FOI contracts, the lowest in a year. This is wholesome.
• The estimated leverage ratio fell below 0.2 only four times in two years, but the leverage was wiped out.
• Crypto Margin Makes Up Just 70,000 Bitcoins (21%), lowest recorded on Glassnode — wsaw 30,000 bitcoins Just melted this week.
• As a result, this week was the 5th largest week in total long and short side liquidations.

Article After Bitcoin’s De-leverage Was Completely Wiped: Analysis of YTD’s 5th Largest Liquidation Week, Its Market Impact Appeared First on CryptoSlate.