Posted 2/26/2024, 8:32:00 AM
Bitcoin Braces for Volatility as Key Indicator Flags High Leverage
- Bitcoin indicator shows high leverage and potential for forced liquidations
- Bitcoin has traded in a narrow $50,500-$53,500 range recently, awaiting a breakout
- Inflows into Bitcoin ETFs have slowed after an initial surge when introduced last month
- Previous instances when indicator was at extremes preceded bigger daily price moves
- Options market makers are currently trading in direction of price moves, potentially exacerbating trends