Labor Day Leverage Check

On Tuesday, the market experienced cascade of liquidations as nearly $4.0 billion of long positions across the entire crypto market were wiped out. Approximately $1.0 billion of $BTC long positions and $855 million of $ETH long positions were liquidated.Tuesday’s liquidations were possibly exacerbated by the leverage embedded in the Ethereum...

FLASH: Bitcoin healthy cool off over weekend resets margin leverage but does not signal end of bull market as “Dogecoin” retail traders are now entering the market

Bitcoin made new ATHs last Wednesday as investors piled in ahead of the Coinbase IPO. As we mentioned in our note last Friday (click this link), we thought a “crypto cooling off would be heathy” – and that’s what we got over the weekend. Source: FSInsight, Glassnode FUTURES OPEN INTEREST...