Bitcoin's recent triumph over the $27,000 barrier, fueled by Grayscale's landmark court victory, has sparked a surge of bullish sentiment. Traders are leveraging their positions more, as indicated by the increase in the Estimated Leverage Ratio (ELR). This trend suggests an increased appetite for risk, driven by anticipation of favorable returns. However, a deeper dive into this data reveals something more... Remember the sharp price oscillations Bitcoin experienced in early August? Could history be about to repeat itself in the crypto market...?
Bitcoin futures show renewed confidence amidst price surge Bitcoin futures show renewed confidence amidst price surge
Rise in estimated leverage ratio signals risk appetite resurgence in Bitcoin market.
2 min read
Updated: Sep. 5, 2023 at 3:20 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
