Bitcoin (BTC) at $69,000 for $42,000 After his journey up to this point, it caused a great panic in the market.
This panic caused by Bitcoin causes the price to suddenly re-emerge. your $50,000 It was almost forgotten when he ascended to it. Although the bullish expectations in the market continue to increase, a signal actually indicates that the danger is imminent.
According to on-chain data, Bitcoin positions leverage ratio broke the all-time record. This actually indicates that a large long position operation may be drawn soon.
CryptoQuant Warns
CryptoQuant Looking at the post published by experts, it can be seen that the leverage ratio in BTC-focused positions has broken a record. This actually indicates that the long positions in question can be cleared with a sharp decline in the following days.
The indicator, which calculates the estimated leverage ratio in the stock markets, points to a clear record as can be seen. It can be clearly seen how sharply the price, shown in white, fell when this indicator broke a record before.
Of course, as the leverage ratios increase, the decrease in BTC’s trading volume indicates that it is much easier to prevent long positions. In this way, large decreases can be realized by making transactions with much lower volumes.
BTC price is currently trading above $51,000 and has risen 10% in the last 7 days. However, the increase in the leverage ratio of long positions definitely means a great danger.
Even if CryptoQuant has published such data, he states that other important on-chain data bodes well in the coming days. According to the company’s report, a fake sharp drop may be seen to liquidate long positions before the expected rise in BTC.