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

GameFi
By Press
0

Quick Take

  • Bitcoin (BTC) Futures Open Interest (FOI) is the total amount of funds (USD Value) allocated in open futures contracts.
  • Currently, 334,000 Bitcoin is allocated in FOI contracts, the lowest for one year — which is healthy.
  • While the Estimated Leverage Ratio broke below 0.2 for only the fourth time in 2 years, leverage has been wiped.
  • Crypto Margin makes up for only 70k Bitcoin (21%), the lowest recorded on Glassnode — which saw 30,000 Bitcoin liquated just this week.
  • As a result, this week was the fifth biggest week in total liquidations to the long and short side.
Open Interest: (Source: Glassnode)
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Leverage: (Source: Glassnode)
Leverage: (Source: Glassnode)
Crypto Open Interest: (Source: Glassnode)
Crypto Open Interest: (Source: Glassnode)
Liquidations: (Source: Glassnode)
Liquidations: (Source: Glassnode)

The post Bitcoin leverage wiped clean: analyzing the 5th biggest week in liquidations YTD, its market implications appeared first on CryptoSlate.

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