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.
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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